Edison International $EIX Position Trimmed by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lessened its position in shares of Edison International (NYSE:EIX) by 51.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,299 shares of the utilities provider’s stock after selling 17,586 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Edison International were worth $885,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised its holdings in shares of Edison International by 4.7% in the 2nd quarter. Avior Wealth Management LLC now owns 2,956 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 134 shares during the period. Equitable Trust Co. lifted its stake in shares of Edison International by 0.8% in the 1st quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider’s stock valued at $1,435,000 after purchasing an additional 148 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in shares of Edison International by 36.6% during the 1st quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 155 shares during the period. Cidel Asset Management Inc. grew its holdings in shares of Edison International by 3.0% during the 2nd quarter. Cidel Asset Management Inc. now owns 6,088 shares of the utilities provider’s stock worth $453,000 after purchasing an additional 178 shares during the period. Finally, Paladin Wealth LLC grew its holdings in shares of Edison International by 6.3% during the 2nd quarter. Paladin Wealth LLC now owns 3,035 shares of the utilities provider’s stock worth $226,000 after purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Argus reissued a “hold” rating on shares of Edison International in a research report on Wednesday, August 26th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $42.00 price target (down from $53.00) on shares of Edison International in a research report on Friday, October 2nd. Mizuho reaffirmed a “neutral” rating and set a $70.00 price target (down from $86.00) on shares of Edison International in a research report on Monday, August 31st. UBS Group reiterated a “neutral” rating and set a $57.00 price objective on shares of Edison International in a research note on Thursday, September 24th. Finally, Bank of America downgraded shares of Edison International from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $81.00 to $51.00 in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Edison International currently has an average rating of “Reduce” and a consensus target price of $60.75.

Insider Buying and Selling

In other Edison International news, Director Peter Taylor sold 500 shares of the company’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $55.56, for a total value of $27,780.00. Following the completion of the transaction, the director owned 33,212 shares in the company, valued at $1,845,258.72. This represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company’s stock.

Edison International Trading Up 0.2%

NYSE:EIX opened at $55.57 on Friday. The business’s 50-day moving average is $60.44 and its two-hundred day moving average is $68.41. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. Edison International has a 12 month low of $51.10 and a 12 month high of $81.62. The firm has a market capitalization of $21.38 billion, a PE ratio of 5.73, a price-to-earnings-growth ratio of 2.23 and a beta of 0.62.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.36. Edison International had a return on equity of 15.53% and a net margin of 20.30%. The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Research analysts predict that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Wednesday, October 7th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $3.51 annualized dividend and a yield of 6.3%. Edison International’s payout ratio is 36.19%.

About Edison International

Edison International is a publicly owned holding company based in Rosemead, California. Its principal subsidiary, Southern California Edison (SCE), is an electric utility that generates, transmits, and distributes electricity across central, coastal, and Southern California.

SCE provides electric service to residential, commercial, industrial, and public-sector customers and manages a large transmission and distribution network. The utility is also involved in grid modernization, wildfire mitigation, renewable energy integration, energy efficiency, and the development of electric transportation infrastructure.

Edison International’s history is rooted in Southern California Edison, which traces its origins to the late 19th century.