Whittier Trust Co. of Nevada Inc. maintained its position in shares of Edison International (NYSE:EIX) during the second quarter, Holdings Channel reports. The institutional investor owned 1,670 shares of the company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Edison International were worth $130,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. Integrated Investment Consultants LLC raised its stake in shares of Edison International by 9.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,001 shares of the company’s stock worth $155,000 after buying an additional 170 shares during the period. Invictus RG bought a new stake in shares of Edison International during the first quarter worth $178,000. Pitcairn Co. bought a new stake in shares of Edison International during the second quarter worth $202,000. Diligent Investors LLC raised its stake in shares of Edison International by 3.0% in the second quarter. Diligent Investors LLC now owns 2,883 shares of the company’s stock worth $224,000 after buying an additional 85 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Edison International by 0.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,898 shares of the company’s stock worth $225,000 after buying an additional 16 shares during the period. 81.95% of the stock is owned by institutional investors.
Edison International (NYSE:EIX) traded up 1.71% on Thursday, hitting $71.26. 1,057,347 shares of the company traded hands. The stock’s 50-day moving average is $72.56 and its 200 day moving average is $73.17. Edison International has a 12 month low of $57.51 and a 12 month high of $78.72. The stock has a market cap of $23.22 billion, a PE ratio of 26.42 and a beta of 0.23.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by $0.12. Edison International had a return on equity of 9.13% and a net margin of 8.56%. The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the business posted $1.16 earnings per share. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. Equities research analysts expect that Edison International will post $3.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, September 28th. Edison International’s payout ratio is currently 71.11%.
A number of equities research analysts have recently weighed in on the stock. Deutsche Bank AG set a $78.00 price objective on shares of Edison International and gave the company a “hold” rating in a report on Sunday, September 4th. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Thursday. Jefferies Group reissued a “hold” rating and set a $80.00 price objective on shares of Edison International in a report on Friday, September 2nd. BMO Capital Markets reissued an “outperform” rating and set a $82.00 price objective (up from $79.00) on shares of Edison International in a report on Monday, August 1st. Finally, Citigroup Inc. boosted their price objective on shares of Edison International from $70.00 to $79.00 and gave the company a “neutral” rating in a report on Wednesday, July 20th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.79.
In other Edison International news, insider Ronald L. Litzinger sold 38,084 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $72.10, for a total transaction of $2,745,856.40. Following the transaction, the insider now directly owns 12,053 shares of the company’s stock, valued at approximately $869,021.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jagjeet S. Bindra sold 3,995 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $73.80, for a total transaction of $294,831.00. The disclosure for this sale can be found here. Company insiders own 1.51% of the company’s stock.
Edison International Company Profile
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.