nVerses Capital LLC Purchases Shares of 13,700 Edison International (NYSE:EIX)

nVerses Capital LLC acquired a new position in shares of Edison International (NYSE:EIX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,700 shares of the utilities provider’s stock, valued at approximately $1,193,000. Edison International makes up approximately 0.5% of nVerses Capital LLC’s holdings, making the stock its biggest position.

A number of other large investors have also recently made changes to their positions in EIX. Probity Advisors Inc. acquired a new position in Edison International during the 3rd quarter worth approximately $220,000. B.O.S.S. Retirement Advisors LLC lifted its position in shares of Edison International by 1.9% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 20,259 shares of the utilities provider’s stock worth $1,764,000 after purchasing an additional 376 shares during the last quarter. Presima Securities ULC grew its stake in shares of Edison International by 2.3% during the third quarter. Presima Securities ULC now owns 8,950 shares of the utilities provider’s stock worth $779,000 after purchasing an additional 200 shares in the last quarter. Nexus Investment Management ULC purchased a new position in Edison International in the third quarter valued at $218,000. Finally, Jamison Private Wealth Management Inc. increased its holdings in Edison International by 15.6% in the third quarter. Jamison Private Wealth Management Inc. now owns 6,713 shares of the utilities provider’s stock valued at $585,000 after buying an additional 907 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on EIX. Morgan Stanley upped their price objective on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. UBS Group increased their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. 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 report on Wednesday, September 11th. Wells Fargo & Company upped their target price 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. Finally, Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $86.50.

Edison International Stock Performance

NYSE EIX traded down $0.61 during trading on Thursday, reaching $85.35. The company’s stock had a trading volume of 493,280 shares, compared to its average volume of 1,988,892. The business’s fifty day moving average price is $85.18 and its 200-day moving average price is $77.58. Edison International has a twelve month low of $61.64 and a twelve month high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The firm has a market cap of $32.84 billion, a price-to-earnings ratio of 37.70, a P/E/G ratio of 1.92 and a beta of 0.91.

Edison International (NYSE:EIX) last announced its quarterly earnings data 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 company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the previous year, the company posted $1.01 EPS. Edison International’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be given a $0.78 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.66%. Edison International’s payout ratio is currently 136.84%.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is owned by corporate insiders.

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.