Bank of New York Mellon Corp Has $220 Million Holdings in Edison International $EIX

Key Points

• Bank of New York Mellon boosted its Edison International stake by 20.3% in the fourth quarter, ending with 3.67 million shares valued at about $220 million.
• Insider selling was modest: Director Peter J. Taylor sold 500 shares in a pre-arranged 10b5-1 transaction, leaving him with 34,212 shares.
• Edison International reported better-than-expected Q1 EPS of $1.42, while revenue came in slightly below estimates; analysts currently rate the stock a Hold with an average target price of $72.64.

Bank of New York Mellon Corp lifted its holdings in Edison International (NYSE:EIX - Free Report) by 20.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,665,365 shares of the utilities provider's stock after acquiring an additional 617,653 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.95% of Edison International worth $219,995,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of EIX. LVW Advisors LLC lifted its holdings in Edison International by 4.6% during the 4th quarter. LVW Advisors LLC now owns 4,224 shares of the utilities provider's stock worth $254,000 after buying an additional 186 shares in the last quarter. Huntington National Bank lifted its holdings in Edison International by 6.2% during the 4th quarter. Huntington National Bank now owns 3,351 shares of the utilities provider's stock worth $201,000 after buying an additional 196 shares in the last quarter. Diligent Investors LLC lifted its holdings in Edison International by 1.5% during the 3rd quarter. Diligent Investors LLC now owns 13,895 shares of the utilities provider's stock worth $768,000 after buying an additional 201 shares in the last quarter. Empowered Funds LLC lifted its holdings in Edison International by 2.4% during the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider's stock worth $523,000 after buying an additional 211 shares in the last quarter. Finally, Addison Advisors LLC lifted its holdings in Edison International by 23.3% during the 4th quarter. Addison Advisors LLC now owns 1,192 shares of the utilities provider's stock worth $72,000 after buying an additional 225 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Edison International

In other news, Director Peter J. Taylor sold 500 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $75.30, for a total transaction of $37,650.00. Following the completion of the transaction, the director directly owned 34,212 shares in the company, valued at $2,576,163.60. This represents a 1.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by corporate insiders.

Edison International Price Performance

EIX stock opened at $73.46 on Friday. The stock has a 50-day moving average price of $70.99 and a two-hundred day moving average price of $66.49. The stock has a market cap of $28.27 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 1.24 and a beta of 0.67. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98. Edison International has a 1 year low of $47.73 and a 1 year high of $76.21.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.10. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The firm had revenue of $4.10 billion during the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The company's revenue was up 7.7% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Equities analysts forecast that Edison International will post 6.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EIX shares. Bank of America reduced their price objective on Edison International from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Barclays cut their price target on Edison International from $78.00 to $77.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Company reissued an "underweight" rating and issued a $62.00 price target on shares of Edison International in a research note on Tuesday, April 21st. UBS Group downgraded Edison International from a "buy" rating to a "neutral" rating and increased their price target for the company from $70.00 to $78.00 in a research note on Friday, February 13th. Finally, LADENBURG THALM/SH SH reissued a "sell" rating and issued a $63.00 price target on shares of Edison International in a research note on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Edison International currently has a consensus rating of "Hold" and an average target price of $72.64.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE's integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company's operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company's activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.

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