American Century Companies Inc. Trims Holdings in Edison International $EIX

Key Points

• American Century Companies Inc. has reduced its holdings in Edison International by 93.7%, selling 3,077,586 shares and now owns only 207,284 shares valued at approximately $12.2 million.
• Edison International reported a net margin of 16.00% and earnings of $0.97 per share for the last quarter, surpassing analysts' expectations of $0.88, with a yearly revenue increase of 4.8%.
• The company announced a quarterly dividend of $0.8275 per share, representing an annual yield of 6.1%, and its dividend payout ratio currently stands at 48.60%.

American Century Companies Inc. cut its holdings in Edison International (NYSE:EIX - Free Report) by 93.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,284 shares of the utilities provider's stock after selling 3,077,586 shares during the period. American Century Companies Inc. owned approximately 0.05% of Edison International worth $12,213,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EIX. KWB Wealth increased its stake in Edison International by 1.5% in the 1st quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock valued at $869,000 after buying an additional 218 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Edison International by 1.5% during the 1st quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider's stock worth $1,047,000 after acquiring an additional 254 shares during the period. Investment Management Corp VA ADV lifted its stake in Edison International by 159.6% in the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 265 shares during the last quarter. CarsonAllaria Wealth Management Ltd. increased its position in Edison International by 11.5% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 2,735 shares of the utilities provider's stock valued at $161,000 after acquiring an additional 281 shares during the period. Finally, Triumph Capital Management increased its position in shares of Edison International by 5.5% during the first quarter. Triumph Capital Management now owns 5,592 shares of the utilities provider's stock worth $329,000 after buying an additional 293 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Edison International Trading Up 2.6%

Shares of NYSE EIX traded up $1.43 during trading hours on Friday, hitting $56.15. The company's stock had a trading volume of 3,527,985 shares, compared to its average volume of 4,339,098. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. The stock has a market cap of $21.61 billion, a price-to-earnings ratio of 8.24, a P/E/G ratio of 1.30 and a beta of 0.75. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77. The business has a 50-day simple moving average of $52.92 and a 200-day simple moving average of $54.40.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%.Edison International's quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were issued a $0.8275 dividend. The ex-dividend date was Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 5.9%. Edison International's dividend payout ratio is 48.60%.

Analysts Set New Price Targets

Several brokerages recently issued reports on EIX. Morgan Stanley reissued an "overweight" rating on shares of Edison International in a research note on Thursday, August 21st. JPMorgan Chase & Co. lowered their price objective on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Barclays boosted their price objective on shares of Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Edison International currently has an average rating of "Moderate Buy" and a consensus target price of $75.21.

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.