Edison International (NYSE:EIX) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lessened its stake in Edison International (NYSE:EIX - Free Report) by 17.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,483 shares of the utilities provider's stock after selling 21,332 shares during the quarter. Impax Asset Management Group plc's holdings in Edison International were worth $8,751,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. QRG Capital Management Inc. grew its holdings in Edison International by 13.5% during the 3rd quarter. QRG Capital Management Inc. now owns 18,196 shares of the utilities provider's stock valued at $1,585,000 after buying an additional 2,161 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in Edison International by 7.5% during the third quarter. Asset Management One Co. Ltd. now owns 199,035 shares of the utilities provider's stock valued at $17,334,000 after purchasing an additional 13,820 shares during the last quarter. Intact Investment Management Inc. purchased a new position in shares of Edison International in the 3rd quarter worth $73,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider's stock worth $68,081,000 after buying an additional 422,752 shares during the last quarter. Finally, Conning Inc. purchased a new stake in shares of Edison International during the 3rd quarter valued at about $235,000. Institutional investors own 88.95% of the company's stock.

Insider Transactions at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company's stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,878 shares of company stock valued at $4,285,422. Company insiders own 1.20% of the company's stock.

Edison International Trading Down 1.0 %

Shares of NYSE EIX traded down $0.80 during trading hours on Wednesday, reaching $81.17. The stock had a trading volume of 3,552,814 shares, compared to its average volume of 2,010,757. The business's fifty day moving average price is $85.25 and its two-hundred day moving average price is $79.06. The firm has a market cap of $31.42 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 1.88 and a beta of 0.92. Edison International has a 52-week low of $62.21 and a 52-week high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.13. The business 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 business's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 EPS. Analysts expect that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.84%. Edison International's dividend payout ratio is currently 91.50%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Morgan Stanley lifted their price target on Edison International from $68.00 to $72.00 and gave the stock an "underweight" rating in a research report on Wednesday, September 25th. Evercore ISI boosted their target price on Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, August 14th. Bank of America initiated coverage on Edison International in a research report on Thursday, September 12th. They issued a "buy" rating and a $95.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, Guggenheim raised their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Edison International has an average rating of "Moderate Buy" and an average price target of $88.36.

Edison International Profile

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.