Caprock Group LLC Reduces Stock Position in Edison International (NYSE:EIX)

Caprock Group LLC lowered its stake in shares of Edison International (NYSE:EIX) by 13.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,830 shares of the utilities provider’s stock after selling 916 shares during the period. Caprock Group LLC’s holdings in Edison International were worth $419,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of Edison International during the second quarter worth $703,000. Asset Dedication LLC lifted its position in shares of Edison International by 37.5% during the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 150 shares in the last quarter. Chris Bulman Inc purchased a new stake in shares of Edison International during the second quarter worth $77,000. Oxbow Advisors LLC purchased a new stake in shares of Edison International during the second quarter worth $2,330,000. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Edison International during the second quarter worth $6,129,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 0.4 %

EIX opened at $84.60 on Friday. The business’s fifty day simple moving average is $80.80 and its 200 day simple moving average is $74.71. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. Edison International has a 52 week low of $58.82 and a 52 week high of $88.77. The stock has a market cap of $32.67 billion, a PE ratio of 37.11 and a beta of 0.91.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts expect that Edison International will post 4.96 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 annualized dividend and a yield of 3.69%. Edison International’s payout ratio is 136.84%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EIX. Wells Fargo & Company upped their price target on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Evercore ISI upped their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Mizuho upped their price target on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Bank of America began coverage on shares of Edison International in a report on Thursday. They issued a “buy” rating and a $95.00 price target on the stock. Finally, Argus upped their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.67.

Insider Buying and Selling at Edison International

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,541,933.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock worth $7,223,342 over the last three months. Company insiders own 1.03% of the company’s stock.

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.