Zurcher Kantonalbank Zurich Cantonalbank Buys 232,621 Shares of Edison International (NYSE:EIX)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Edison International (NYSE:EIX) by 108.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 446,993 shares of the utilities provider’s stock after purchasing an additional 232,621 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.12% of Edison International worth $32,099,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in EIX. Carson Advisory Inc. increased its holdings in Edison International by 0.3% during the 1st quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock valued at $3,864,000 after purchasing an additional 152 shares during the period. Cohen Capital Management Inc. increased its stake in shares of Edison International by 0.5% during the first quarter. Cohen Capital Management Inc. now owns 35,744 shares of the utilities provider’s stock valued at $2,528,000 after buying an additional 161 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of Edison International by 1.1% during the first quarter. Orion Portfolio Solutions LLC now owns 14,743 shares of the utilities provider’s stock valued at $1,043,000 after acquiring an additional 161 shares in the last quarter. Meeder Advisory Services Inc. lifted its stake in Edison International by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 4,496 shares of the utilities provider’s stock worth $318,000 after acquiring an additional 163 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in Edison International by 3.1% in the first quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the utilities provider’s stock valued at $393,000 after acquiring an additional 169 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

NYSE EIX traded up $1.50 during trading hours on Thursday, reaching $86.50. The company’s stock had a trading volume of 2,010,575 shares, compared to its average volume of 1,986,700. Edison International has a 1 year low of $58.82 and a 1 year high of $87.14. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 37.94 and a beta of 0.91. The firm’s 50-day moving average price is $77.62 and its 200-day moving average price is $73.24.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts predict that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s dividend payout ratio is presently 136.84%.

Insider Activity at Edison International

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The disclosure for this sale can be found here. Insiders have sold a total of 99,103 shares of company stock valued at $7,981,345 over the last 90 days. 1.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EIX. Mizuho raised their target price on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Wells Fargo & Company upped their target price on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. UBS Group cut Edison International from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $83.00 to $82.00 in a research report on Friday, July 19th. Guggenheim raised their price objective on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Barclays increased their target price on Edison International from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International presently has a consensus rating of “Hold” and a consensus price target of $80.73.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.