Mondrian Investment Partners LTD Increases Stake in Edison International (NYSE:EIX)

Mondrian Investment Partners LTD lifted its stake in shares of Edison International (NYSE:EIX) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,531 shares of the utilities provider’s stock after acquiring an additional 748 shares during the quarter. Mondrian Investment Partners LTD’s holdings in Edison International were worth $1,474,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EIX. Capital Research Global Investors lifted its stake in Edison International by 1.7% in the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after purchasing an additional 345,189 shares in the last quarter. Pzena Investment Management LLC raised its position in Edison International by 2.3% during the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after purchasing an additional 305,459 shares during the period. Capital International Investors lifted its stake in shares of Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Edison International by 4.4% in the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock worth $734,632,000 after purchasing an additional 433,845 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after purchasing an additional 67,089 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Down 0.2 %

Shares of NYSE:EIX opened at $86.06 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The business’s 50 day moving average is $81.65 and its 200 day moving average is $75.21. The stock has a market cap of $33.11 billion, a P/E ratio of 37.75 and a beta of 0.91. Edison International has a 52-week low of $58.82 and a 52-week high of $88.77.

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

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were given a $0.78 dividend. The ex-dividend date was Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.63%. Edison International’s payout ratio is presently 136.84%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EIX shares. Bank of America assumed coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. Morgan Stanley lifted their price target on shares of Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company upped their price target on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Argus raised their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Edison International presently has a consensus rating of “Hold” and a consensus price target of $85.83.

Insider Activity

In related news, VP Natalie K. Schilling sold 2,341 shares of the business’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 value of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Edison International news, CEO J Andrew Murphy sold 32,505 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,575,159.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’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 owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,099 shares of company stock worth $7,223,342. Corporate 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.