BI Asset Management Fondsmaeglerselskab A S Lowers Holdings in Edison International $EIX

Key Points

• BI Asset Management sharply cut its Edison International stake by 85.7% in the first quarter, selling 106,032 shares and ending with 17,706 shares valued at about $1.3 million.
• Edison International reported better-than-expected quarterly earnings of $1.42 per share, topping estimates, while revenue rose 7.7% year over year to $4.10 billion.
• Analyst sentiment is mixed: the stock has a consensus rating of Hold with an average price target of $72.64, even as some firms upgraded or reiterated bullish views and the shares traded up 1.7% on the day.

BI Asset Management Fondsmaeglerselskab A S decreased its position in shares of Edison International (NYSE:EIX - Free Report) by 85.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,706 shares of the utilities provider's stock after selling 106,032 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Edison International were worth $1,296,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in Edison International by 69.9% during the 4th quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider's stock valued at $1,097,475,000 after purchasing an additional 7,521,168 shares during the period. Norges Bank bought a new position in shares of Edison International during the fourth quarter valued at approximately $339,311,000. Goldman Sachs Group Inc. increased its holdings in Edison International by 41.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,496,907 shares of the utilities provider's stock valued at $329,924,000 after buying an additional 1,609,847 shares during the period. SG Americas Securities LLC increased its holdings in Edison International by 2,970.8% during the fourth quarter. SG Americas Securities LLC now owns 1,297,280 shares of the utilities provider's stock valued at $77,863,000 after buying an additional 1,255,034 shares during the period. Finally, Man Group plc raised its stake in Edison International by 109.6% in the second quarter. Man Group plc now owns 2,314,124 shares of the utilities provider's stock worth $119,409,000 after buying an additional 1,209,964 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Trading Up 1.7%

NYSE EIX opened at $74.16 on Thursday. The stock has a market cap of $28.53 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.26 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. The company has a fifty day simple moving average of $70.70 and a two-hundred day simple moving average of $67.81. Edison International has a 12-month low of $49.14 and a 12-month high of $76.21.

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

Wall Street Analyst Weigh In

EIX has been the subject of a number of analyst reports. Weiss Ratings upgraded Edison International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 15th. Wells Fargo & Company reiterated an "underweight" rating and issued a $62.00 price target on shares of Edison International in a report on Tuesday, April 21st. Morgan Stanley reissued an "underweight" rating on shares of Edison International in a research report on Wednesday. Barclays decreased their price objective on Edison International from $78.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Finally, Seaport Research Partners downgraded Edison International from a "buy" rating to a "neutral" rating in a research report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $72.64.

Insider Transactions at Edison International

In related news, Director Peter J. Taylor sold 500 shares of the business's stock in a transaction on 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. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by corporate insiders.

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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