KCM Investment Advisors LLC Reduces Holdings in Edison International (NYSE:EIX)

KCM Investment Advisors LLC decreased its stake in shares of Edison International (NYSE:EIX) by 1.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 139,080 shares of the utilities provider’s stock after selling 2,188 shares during the period. KCM Investment Advisors LLC’s holdings in Edison International were worth $12,112,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CreativeOne Wealth LLC purchased a new stake in Edison International during the 1st quarter worth about $230,000. Swedbank AB lifted its holdings in Edison International by 76.3% during the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after purchasing an additional 193,307 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Edison International by 44.9% during the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after purchasing an additional 14,346 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Edison International by 150.6% during the 1st quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after purchasing an additional 102,000 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in Edison International by 165.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,309 shares of the utilities provider’s stock worth $800,000 after acquiring an additional 7,050 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays upped their target price on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Evercore ISI upped their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Wells Fargo & Company upped their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price objective on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Finally, Bank of America began coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Edison International has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was 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 90 days, insiders sold 50,878 shares of company stock worth $4,285,422. 1.03% of the stock is currently owned by company insiders.

Edison International Trading Up 1.1 %

EIX stock traded up $0.87 during trading on Friday, hitting $83.00. 260,518 shares of the company traded hands, compared to its average volume of 2,005,300. The firm has a market capitalization of $32.13 billion, a PE ratio of 24.37, a P/E/G ratio of 1.96 and a beta of 0.92. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The company has a 50-day moving average of $84.61 and a 200-day moving average of $79.51. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last issued 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 during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 EPS. Analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.76%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is presently 91.50%.

Edison International Company 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.