Bard Financial Services Inc. Cuts Holdings in Edison International (NYSE:EIX)

Bard Financial Services Inc. cut its holdings in Edison International (NYSE:EIX) by 18.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,200 shares of the utilities provider’s stock after selling 2,100 shares during the quarter. Bard Financial Services Inc.’s holdings in Edison International were worth $735,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Highline Wealth Partners LLC purchased a new stake in shares of Edison International during the 3rd quarter worth $26,000. Groupama Asset Managment boosted its holdings in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Edison International during the second quarter worth about $27,000. Eastern Bank acquired a new position in Edison International during the third quarter worth about $27,000. Finally, Farmers & Merchants Investments Inc. lifted its position in shares of Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Down 1.1 %

NYSE EIX traded down $0.89 during trading hours on Monday, hitting $78.91. 1,047,322 shares of the company’s stock were exchanged, compared to its average volume of 1,482,484. The business’s 50 day moving average is $82.76 and its 200-day moving average is $81.82. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The firm has a market capitalization of $30.55 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the company posted $1.38 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 4.19%. Edison International’s payout ratio is currently 97.07%.

Insider Transactions at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on EIX. Argus upped their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Morgan Stanley lowered their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Bank of America assumed coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.