Moors & Cabot Inc. Trims Stock Position in Edison International (NYSE:EIX)

Moors & Cabot Inc. trimmed its stake in Edison International (NYSE:EIX) by 3.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,353 shares of the utilities provider’s stock after selling 179 shares during the period. Moors & Cabot Inc.’s holdings in Edison International were worth $466,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of EIX. Lake Street Advisors Group LLC grew its holdings in shares of Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its position in shares of Edison International by 2.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 129 shares during the period. SFE Investment Counsel grew its stake in Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after buying an additional 130 shares during the last quarter. Equitable Trust Co. grew its stake in Edison International by 0.9% during the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after buying an additional 132 shares during the last quarter. Finally, TIAA Trust National Association increased its position in Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after buying an additional 134 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. This trade represents a 54.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. Insiders have sold 49,516 shares of company stock worth $4,169,652 over the last quarter. 1.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday. Barclays raised their price objective on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Argus upped their target price on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Bank of America began coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International Price Performance

Shares of NYSE EIX opened at $86.51 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company’s 50-day moving average price is $84.64 and its 200 day moving average price is $80.08. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The stock has a market cap of $33.49 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 2.05 and a beta of 0.92.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the prior year, the firm earned $1.38 EPS. Edison International’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is presently 91.50%.

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.