171,866 Edison International $EIX Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its stake in shares of Edison International (NYSE:EIX) by 47.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 537,384 shares of the utilities provider’s stock after purchasing an additional 171,866 shares during the period. Pictet Asset Management Holding SA owned 0.14% of Edison International worth $28,874,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Alps Advisors Inc. boosted its holdings in shares of Edison International by 34.7% in the 3rd quarter. Alps Advisors Inc. now owns 578,571 shares of the utilities provider’s stock worth $31,087,000 after purchasing an additional 149,187 shares during the period. Rakuten Investment Management Inc. bought a new position in shares of Edison International during the 2nd quarter valued at approximately $4,750,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Edison International during the 2nd quarter valued at $33,328,000. Jupiter Topco LLC purchased a new stake in Edison International during the 2nd quarter valued at $3,577,000. Finally, Corient Private Wealth LP lifted its position in Edison International by 49.7% in the second quarter. Corient Private Wealth LP now owns 136,621 shares of the utilities provider’s stock worth $10,171,000 after buying an additional 45,336 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Activity

In other news, Director Peter Taylor sold 500 shares of the business’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $55.56, for a total transaction of $27,780.00. Following the completion of the sale, the director directly owned 33,212 shares of the company’s stock, valued at approximately $1,845,258.72. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the topic of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Edison International from $62.00 to $59.00 and set an “underweight” rating on the stock in a research report on Friday, October 30th. Weiss Ratings lowered shares of Edison International from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, September 10th. JPMorgan Chase & Co. dropped their price target on shares of Edison International from $61.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Mizuho set a $63.00 price target on shares of Edison International in a research note on Monday, November 2nd. Finally, Truist Financial cut their price target on shares of Edison International from $63.00 to $62.00 and set a “hold” rating on the stock in a report on Monday, October 12th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $60.58.

Edison International Price Performance

Shares of EIX stock opened at $60.20 on Wednesday. Edison International has a 52-week low of $51.10 and a 52-week high of $81.62. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.71 and a current ratio of 0.77. The firm has a market capitalization of $23.17 billion, a P/E ratio of 6.40, a P/E/G ratio of 2.54 and a beta of 0.56. The stock has a 50 day moving average price of $56.34 and a 200 day moving average price of $67.69.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.11. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Edison International had a return on equity of 14.17% and a net margin of 20.50%. Edison International’s revenue was down 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.34 EPS. As a group, sell-side analysts predict that Edison International will post 6.13 earnings per share for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, October 31st. Stockholders of record on Wednesday, October 7th were paid a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Wednesday, October 7th. Edison International’s payout ratio is currently 37.30%.

About Edison International

Edison International is a holding company focused on electric power generation and delivery. Its principal subsidiary, Southern California Edison (SCE), is a regulated electric utility that serves homes and businesses across much of central and Southern California. SCE operates and maintains the electric grid, including transmission and distribution infrastructure, and works to support the region’s shift to cleaner energy. Edison International also provides energy advisory and management services through its Edison Energy business.