Van ECK Associates Corp Sells 24,294 Shares of Edison International (NYSE:EIX)

Van ECK Associates Corp lowered its holdings in shares of Edison International (NYSE:EIX - Free Report) by 18.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,716 shares of the utilities provider's stock after selling 24,294 shares during the period. Van ECK Associates Corp's holdings in Edison International were worth $9,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of EIX. Conning Inc. acquired a new stake in Edison International during the 3rd quarter worth approximately $235,000. Farther Finance Advisors LLC increased its position in Edison International by 26.4% during the third quarter. Farther Finance Advisors LLC now owns 1,433 shares of the utilities provider's stock worth $125,000 after buying an additional 299 shares during the last quarter. Private Wealth Group LLC acquired a new stake in Edison International during the 3rd quarter valued at $241,000. US Bancorp DE grew its position in shares of Edison International by 1.2% in the third quarter. US Bancorp DE now owns 61,744 shares of the utilities provider's stock valued at $5,377,000 after purchasing an additional 743 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new position in Edison International during the third quarter worth about $308,000. Institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley increased their price target on Edison International from $68.00 to $72.00 and gave the company an "underweight" rating in a research note on Wednesday, September 25th. Bank of America started coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a "buy" rating and a $95.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Barclays increased their price target on Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Argus increased their target price on shares of Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.75.

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm's 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,687,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the business's 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. Over the last quarter, insiders have sold 50,878 shares of company stock worth $4,285,422. Company insiders own 1.20% of the company's stock.

Edison International Trading Up 0.4 %

EIX stock traded up $0.30 during mid-day trading on Thursday, hitting $81.47. 1,339,148 shares of the company were exchanged, compared to its average volume of 2,007,594. Edison International has a 12-month low of $62.21 and a 12-month high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The business has a fifty day simple moving average of $85.17 and a 200-day simple moving average of $79.08. The firm has a market capitalization of $31.54 billion, a P/E ratio of 23.80, a PEG ratio of 1.88 and a beta of 0.92.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company's revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $1.38 EPS. On average, equities research analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Monday, October 7th. Edison International's dividend payout ratio (DPR) 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.