Bank of Montreal Can Acquires 34,701 Shares of Edison International (NYSE:EIX)

Bank of Montreal Can grew its stake in Edison International (NYSE:EIX) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 695,620 shares of the utilities provider’s stock after purchasing an additional 34,701 shares during the period. Bank of Montreal Can owned approximately 0.18% of Edison International worth $50,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. CreativeOne Wealth LLC acquired a new stake in Edison International in the 1st quarter valued at $230,000. Swedbank AB boosted its stake in shares of Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after purchasing an additional 193,307 shares in the last quarter. Brookstone Capital Management grew its holdings in shares of Edison International by 3,503.3% in the 1st quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock worth $9,573,000 after purchasing an additional 131,585 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Edison International by 44.9% in the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after purchasing an additional 14,346 shares during the last quarter. Finally, United Services Automobile Association bought a new position in Edison International during the 4th quarter valued at about $743,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,687,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction that occurred on Wednesday, July 31st. The stock was 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. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock valued at $7,223,342 over the last three months. Company insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EIX. Guggenheim raised their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. UBS Group raised their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company boosted their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Evercore ISI raised their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, Argus lifted their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $86.17.

Edison International Stock Performance

Shares of NYSE:EIX opened at $85.50 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. Edison International has a 1-year low of $58.82 and a 1-year high of $88.77. The stock has a market capitalization of $32.90 billion, a P/E ratio of 37.50, a P/E/G ratio of 1.99 and a beta of 0.91. The business has a 50-day moving average price of $82.82 and a two-hundred day moving average price of $75.81.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. Edison International’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts predict that Edison International will post 4.97 earnings per share for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 annualized dividend and a dividend yield of 3.65%. Edison International’s dividend payout ratio is currently 136.84%.

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.