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

Bard Financial Services Inc. cut its holdings in Edison International (NYSE:EIX) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,300 shares of the utilities provider’s stock after selling 290 shares during the period. Bard Financial Services Inc.’s holdings in Edison International were worth $984,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Edison International Trading Down 0.3 %

NYSE:EIX opened at $82.78 on Wednesday. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a 50-day moving average price of $84.67 and a 200-day moving average price of $80.99. The stock has a market cap of $32.05 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 2.01 and a beta of 0.92.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 earnings per share. Equities analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.77%. Edison International’s payout ratio is 91.50%.

Analyst Ratings Changes

A number of equities analysts have recently commented on EIX shares. UBS Group raised their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Royal Bank of Canada lifted their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Bank of America assumed coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. Argus increased their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Barclays boosted their target price 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 research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.75.

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.