Ronald L. Litzinger Sells 38,086 Shares of Edison International (EIX) Stock
Edison International (NYSE:EIX) insider Ronald L. Litzinger sold 38,086 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $69.40, for a total value of $2,643,168.40. Following the sale, the insider now directly owns 12,054 shares in the company, valued at approximately $836,547.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Edison International (NYSE:EIX) opened at 68.69 on Friday. Edison International has a 12 month low of $57.85 and a 12 month high of $78.72. The company’s 50-day moving average price is $70.92 and its 200 day moving average price is $73.25. The stock has a market capitalization of $22.38 billion, a PE ratio of 25.47 and a beta of 0.17.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.06. Edison International had a return on equity of 9.59% and a net margin of 8.80%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the business earned $1.16 EPS. Edison International’s revenue was up .1% on a year-over-year basis. On average, analysts forecast that Edison International will post $3.91 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Friday, September 30th were issued a dividend of $0.48 per share. The ex-dividend date was Wednesday, September 28th. This represents a $1.92 annualized dividend and a yield of 2.80%. Edison International’s dividend payout ratio (DPR) is 71.38%.
Large investors have recently modified their holdings of the company. Pacad Investment Ltd. acquired a new position in Edison International during the second quarter worth approximately $109,000. TLP Group LLC acquired a new position in Edison International during the third quarter worth approximately $118,000. Pinkerton Retirement Specialists LLC acquired a new position in Edison International during the second quarter worth approximately $130,000. Cornerstone Advisors Inc. increased its position in Edison International by 24.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,900 shares of the company’s stock worth $137,000 after buying an additional 374 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in Edison International during the third quarter worth approximately $137,000. Institutional investors own 81.73% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Deutsche Bank AG set a $78.00 price objective on Edison International and gave the company a “hold” rating in a research report on Sunday, September 4th. Jefferies Group reissued a “hold” rating and issued a $80.00 price target on shares of Edison International in a report on Friday, September 2nd. BMO Capital Markets reissued an “outperform” rating and issued a $82.00 price target (up previously from $79.00) on shares of Edison International in a report on Monday, August 1st. Zacks Investment Research downgraded Edison International from a “buy” rating to a “hold” rating in a report on Friday, October 14th. Finally, Argus lowered their price target on Edison International from $86.00 to $81.00 and set a “buy” rating for the company in a report on Tuesday, October 4th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Edison International currently has an average rating of “Hold” and an average target price of $76.79.
About Edison International
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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