Raymond James & Associates, a prominent investment firm, has recently reduced its holdings in Edison International by 6.4% during the first quarter of this year. According to the company’s Form 13F filing with the Securities and Exchange Commission (SEC), they now own 511,470 shares of Edison International, down from their previous holding of 546,478 shares. This decrease amounts to selling 35,008 shares during the quarter.
With this reduction in holdings, Raymond James & Associates now holds approximately 0.13% of the utilities provider’s stock. At the end of the reporting period, these holdings were valued at an impressive $36,105,000. It is noteworthy that Raymond James & Associates’ decision to trim their position in Edison International could indicate a strategic shift in their investment portfolio.
Adding further complexity to the situation is Edison International’s recent declaration of a quarterly dividend. The dividend will be paid on Monday, July 31st and investors of record on Wednesday, July 5th will receive a $0.738 dividend per share held. This represents an increase from Edison International’s previous quarterly dividend rate which stood at $0.74.
The annualized dividend payout for this new rate will be approximately $2.95 per share owned by investors, resulting in an attractive yield of 4.32%. However, it should be noted that Edison International’s dividend payout ratio currently stands at a staggering 134.70%, suggesting that they are distributing more cash than they generate as profits.
In other news related to insider trading within the company, Senior Vice President J Andrew Murphy sold a significant number of shares recently. On April 5th alone, he sold 22,471 shares at an average price of $72.03 per share resulting in a total value exceeding $1.6 million USD.
Following this transaction, Murphy now holds only 12,989 shares in Edison International, valuing his remaining stake at around $935,597.67 USD. The disclosure of this sale was made in a filing with the SEC and more details are available through the provided link.
It is vital to note that corporate insiders currently own 1.03% of Edison International’s stock, further underscoring the significance of insider trading activities within the company. Such activities often attract the attention of investors and analysts alike as their behavior can be indicative of future market trends or potential opportunities.
In conclusion, Raymond James & Associates’ decision to trim its holdings in Edison International offers insights into their investment strategy. Meanwhile, Edison International’s announcement of an increased quarterly dividend paves the way for potential income opportunities for shareholders. Furthermore, Senior Vice President J Andrew Murphy’s recent sale of stocks adds another layer of complexity to the overall situation at Edison International. As always, it is important for investors to follow these developments closely in order to make informed decisions regarding their investment portfolio.
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Edison International: A Promising Utilities Provider with Growing Investor Confidence
Edison International, a leading utilities provider, has seen several institutional investors and hedge funds make changes to their positions in the company. Securian Asset Management Inc., for example, has increased its stake in Edison International by 0.5% during the fourth quarter, now owning 31,240 shares worth $1,987,000. Lido Advisors LLC and CWM LLC have also raised their holdings in the company, purchasing additional shares during the last quarter.
These moves by institutional investors highlight their confidence in Edison International’s prospects. Moreover, analysts have weighed in on EIX shares, providing further insight into the company’s potential. Mizuho lifted their price objective on the stock and gave it a “neutral” rating. StockNews.com initiated coverage on Edison International and issued a “hold” rating for the company. These ratings are crucial as they help investors make informed decisions about whether to buy or sell shares.
The firm recently announced an increase in its quarterly dividend payout to shareholders. On Monday, July 31st, investors of record on Wednesday, July 5th will be eligible for a $0.738 dividend—a 4.32% yield—representing an annualized dividend of $2.95 per share. This marks an improvement from its previous quarterly dividend of $0.74 and demonstrates Edison International’s commitment to delivering value to its shareholders.
The stock performance of EIX is also noteworthy. Shares opened at $68.37 on Thursday—an indication of investor sentiment toward the company’s future potential. Within the past year alone, Edison International’s stock has ranged from a low of $54.45 to a high of $74.92—a testament to its resilience and ability to weather market volatility.
With a market capitalization of over $26 billion and a price-to-earnings ratio of 31.22, Edison International is well-positioned within the industry it serves. The company has a debt-to-equity ratio of 1.89, indicating a healthy balance sheet and the ability to leverage resources efficiently. Its financial stability is further underscored by its current and quick ratios of 0.86 and 0.80 respectively.
Edison International’s most recent earnings report also exceeded market expectations. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates by $0.05. Despite a slight decline in revenue, Edison International maintained a net margin of 6.12% and a return on equity of 12.48%. These figures are reflective of the company’s operational efficiency and commitment to profitability.
Looking ahead, equities analysts forecast that Edison International will continue to perform well, with an estimated earnings per share of 4.72 for the current fiscal year.
In conclusion, Edison International is a utilities provider that has garnered attention from institutional investors and analysts alike. With positive ratings, an increased dividend payout, strong stock performance, and impressive financial results, the company is poised for continued success in the industry.