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

Impax Asset Management Group plc cut its position in Edison International (NYSE:EIX) by 17.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,483 shares of the utilities provider’s stock after selling 21,332 shares during the quarter. Impax Asset Management Group plc’s holdings in Edison International were worth $8,751,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in EIX. Highline Wealth Partners LLC bought a new stake in shares of Edison International in the third quarter valued at $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International in the second quarter valued at $27,000. Eastern Bank bought a new stake in shares of Edison International in the third quarter valued at $27,000. Country Trust Bank bought a new stake in shares of Edison International in the second quarter valued at $29,000. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EIX has been the topic of a number of analyst reports. UBS Group boosted their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Argus boosted their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Royal Bank of Canada boosted their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley boosted their price objective on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Finally, Barclays boosted their price objective on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International Price Performance

Shares of NYSE EIX opened at $83.67 on Friday. The firm has a market capitalization of $32.39 billion, a P/E ratio of 24.54, a P/E/G ratio of 1.96 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock’s 50-day simple moving average is $84.61 and its two-hundred day simple moving average is $79.51. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the prior year, the business earned $1.38 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is currently 91.50%.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This represents a 54.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,878 shares of company stock worth $4,285,422. 1.03% of the stock is currently owned by corporate insiders.

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.