Impax Asset Management Group plc Sells 21,332 Shares of Edison International (NYSE:EIX)

Impax Asset Management Group plc decreased its holdings in shares of Edison International (NYSE:EIX) by 17.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,483 shares of the utilities provider’s stock after selling 21,332 shares during the period. 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 bought and sold shares of EIX. CreativeOne Wealth LLC bought a new position in shares of Edison International in the 1st quarter worth approximately $230,000. Swedbank AB raised its position in shares of Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after acquiring an additional 193,307 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Edison International by 44.9% in the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after acquiring an additional 14,346 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Edison International by 150.6% in the 1st quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after acquiring an additional 102,000 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in shares of 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 in the last quarter. Institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

EIX has been the subject of several research reports. Morgan Stanley increased their target price on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Bank of America assumed coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. UBS Group raised their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Argus raised their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company raised their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Stock Performance

Shares of EIX opened at $83.67 on Friday. The business’s fifty day simple moving average is $84.61 and its two-hundred day simple moving average is $79.51. 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 has a 12 month low of $63.15 and a 12 month high of $88.77. The company has a market cap of $32.39 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 1.96 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the business posted $1.38 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. Research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 3.73%. Edison International’s dividend payout ratio (DPR) is currently 91.50%.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 23,896 shares of the firm’s 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 transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. This trade represents a 54.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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. Insiders have sold a total of 50,878 shares of company stock worth $4,285,422 in the last ninety days. 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.