Founders Financial Securities LLC Raises Stake in Edison International (NYSE:EIX)

Founders Financial Securities LLC lifted its position in shares of Edison International (NYSE:EIX – Free Report) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,741 shares of the utilities provider’s stock after acquiring an additional 415 shares during the quarter. Founders Financial Securities LLC’s holdings in Edison International were worth $771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EIX. Benjamin F. Edwards & Company Inc. raised its holdings in Edison International by 258.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 11,001 shares of the utilities provider’s stock valued at $786,000 after purchasing an additional 7,932 shares in the last quarter. Axxcess Wealth Management LLC boosted its holdings in shares of Edison International by 3.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 6,681 shares of the utilities provider’s stock worth $478,000 after buying an additional 220 shares in the last quarter. Sapient Capital LLC purchased a new stake in Edison International in the 4th quarter valued at $217,000. Lincoln National Corp boosted its holdings in Edison International by 4.7% in the 4th quarter. Lincoln National Corp now owns 14,175 shares of the utilities provider’s stock valued at $1,013,000 after buying an additional 636 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Edison International by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,204,214 shares of the utilities provider’s stock valued at $157,579,000 after purchasing an additional 38,738 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s shares.

The Wall Street analyst weighs in

Several analysts recently issued reports on EIX shares. Barclays upped their target price on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday. Wells Fargo & Company upped their target price on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. UBS Group boosted their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday. Argus upped their target price on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Finally, Mizuho boosted their target price on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Edison International presently has an average rating of “Hold” and a consensus price target of $82.36, based on data from MarketBeat.com.

Check out our latest analysis of EIX

Insider buying and selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the sale, the chief executive officer now owns 19,660 shares in the company, valued at $1,541,933.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,541,933.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,099 shares of company stock worth $7,223,342. 1.03% of shares are owned by company insiders.

Edison International Stock Performance

Shares of EIX stock opened at $87.72 on Thursday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96, and a current ratio of 1.03. Edison International has a one year low of $58.82 and a one year high of $88.77. The company’s 50-day simple moving average is $79.13, and its 200-day simple moving average is $73.99. The stock has a market cap of $33.88 billion, a price-to-earnings ratio of 38.47 and a beta of 0.91.

Edison International (NYSE:EIX – Get Free Report ) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. Edison International’s quarterly revenue was up 9.4% on a year-over-year basis. In the same quarter last year, the company earned $1.01 per share. equities analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International announces dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents an annualized dividend of $3.12 and a dividend yield of 3.56%. Edison International’s payout ratio is currently 136.84%.

Edison International Company Profile

(Free Report)

Edison International, through its subsidiaries, engages in the generation and distribution of electricity. The company supplies and supplies electricity to an area of ​​approximately 50,000 square miles in Southern California to residential, commercial, industrial, government, agricultural and other sectors.

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