National Pension Service Reduces Stock Position in Edison International (NYSE:EIX)

National Pension Service lessened its position in shares of Edison International (NYSE:EIX - Free Report) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 567,049 shares of the utilities provider's stock after selling 11,203 shares during the period. National Pension Service owned 0.15% of Edison International worth $49,384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EIX. Capital Research Global Investors boosted its position in shares of Edison International by 1.7% in the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider's stock valued at $1,438,984,000 after acquiring an additional 345,189 shares during the period. Capital International Investors grew its position in shares of Edison International by 6.4% during the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider's stock valued at $940,562,000 after purchasing an additional 795,950 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider's stock worth $360,198,000 after purchasing an additional 24,834 shares during the period. American Century Companies Inc. raised its position in shares of Edison International by 1.8% in the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider's stock worth $277,503,000 after buying an additional 67,089 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Edison International by 10.1% during the second quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider's stock valued at $148,768,000 after buying an additional 190,026 shares during the period. 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO J Andrew Murphy sold 23,896 shares of the company'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 owns 19,850 shares in the company, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,877 shares of company stock valued at $4,285,341 over the last 90 days. Company insiders own 1.20% of the company's stock.

Edison International Stock Down 0.1 %

NYSE:EIX traded down $0.05 on Wednesday, reaching $81.92. 1,896,693 shares of the stock traded hands, compared to its average volume of 2,003,054. The company has a market capitalization of $31.72 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.88 and a beta of 0.92. Edison International has a 12 month low of $62.21 and a 12 month 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. The company's fifty day simple moving average is $85.25 and its 200 day simple moving average is $79.06.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.01 billion. During the same quarter in the prior year, the business earned $1.38 earnings per share. Edison International's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts predict 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. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.81%. Edison International's payout ratio is presently 91.50%.

Analyst Ratings Changes

A number of brokerages recently weighed in on EIX. Royal Bank of Canada raised their target price on shares of Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Guggenheim upped their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Argus raised their price target on Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. Bank of America began coverage on Edison International in a report on Thursday, September 12th. They issued a "buy" rating and a $95.00 price objective for the company. Finally, Morgan Stanley raised their price objective on Edison International from $68.00 to $72.00 and gave the company an "underweight" rating in a report on Wednesday, September 25th. 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. According to data from MarketBeat, Edison International presently has a consensus rating of "Moderate Buy" and an average target price of $88.36.

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.