Intech Investment Management LLC Decreases Stock Holdings in Edison International $EIX

Intech Investment Management LLC trimmed its stake in shares of Edison International (NYSE:EIX) by 17.6% in the 2nd quarter, Holdings Channel reports. The firm owned 208,635 shares of the utilities provider’s stock after selling 44,558 shares during the period. Intech Investment Management LLC’s holdings in Edison International were worth $10,766,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of EIX. Investment Management Corp VA ADV boosted its holdings in shares of Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock worth $25,000 after buying an additional 265 shares during the last quarter. Kentucky Trust Co raised its stake in shares of Edison International by 66.7% in the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after buying an additional 200 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Edison International during the 1st quarter valued at about $35,000. American National Bank & Trust purchased a new position in shares of Edison International during the 2nd quarter valued at about $32,000. Finally, Hilltop National Bank bought a new position in shares of Edison International in the second quarter worth approximately $44,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EIX has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Edison International from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. JPMorgan Chase & Co. boosted their target price on shares of Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Cowen began coverage on shares of Edison International in a research report on Wednesday, October 15th. They set a “buy” rating on the stock. Wells Fargo & Company raised Edison International to a “hold” rating in a research report on Tuesday, October 28th. Finally, Wall Street Zen lowered shares of Edison International from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $64.30.

Insider Activity

In related news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the completion of the transaction, the director directly owned 35,212 shares in the company, valued at $1,946,167.24. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Edison International Stock Down 0.6%

NYSE:EIX opened at $58.72 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.95. The company’s 50 day moving average is $55.84 and its two-hundred day moving average is $54.43. Edison International has a twelve month low of $47.73 and a twelve month high of $88.64. The company has a market cap of $22.60 billion, a PE ratio of 7.68, a P/E/G ratio of 0.83 and a beta of 0.85.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.18. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the previous year, the company posted $1.51 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th were paid a $0.8275 dividend. The ex-dividend date was Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.6%. Edison International’s dividend payout ratio is presently 43.27%.

Edison International Company 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.