Burney Co. Sells 27,099 Shares of Edison International $EIX

Burney Co. cut its holdings in shares of Edison International (NYSE:EIX - Free Report) by 23.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,090 shares of the utilities provider's stock after selling 27,099 shares during the quarter. Burney Co.'s holdings in Edison International were worth $6,520,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in Edison International by 5.3% in the fourth quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider's stock valued at $190,000 after purchasing an additional 159 shares during the last quarter. LVW Advisors LLC increased its position in Edison International by 4.6% in the fourth quarter. LVW Advisors LLC now owns 4,224 shares of the utilities provider's stock worth $254,000 after buying an additional 186 shares during the last quarter. Huntington National Bank raised its stake in shares of Edison International by 6.2% in the fourth quarter. Huntington National Bank now owns 3,351 shares of the utilities provider's stock valued at $201,000 after buying an additional 196 shares during the period. Diligent Investors LLC raised its stake in shares of Edison International by 1.5% in the third quarter. Diligent Investors LLC now owns 13,895 shares of the utilities provider's stock valued at $768,000 after buying an additional 201 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of Edison International by 2.4% during the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider's stock valued at $523,000 after buying an additional 211 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Price Performance

Shares of NYSE EIX opened at $74.82 on Tuesday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.68 and a current ratio of 0.74. Edison International has a fifty-two week low of $49.14 and a fifty-two week high of $76.21. The stock has a market cap of $28.79 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 1.31 and a beta of 0.66. The stock has a fifty day moving average of $71.28 and a 200-day moving average of $68.66.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, beating 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 business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. The company's quarterly revenue was up 7.7% compared to the same quarter last year. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Equities research analysts anticipate that Edison International will post 6.12 earnings per share for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, July 7th. Edison International's dividend payout ratio is 38.11%.

Insiders Place Their Bets

In other Edison International news, Director Peter J. Taylor sold 500 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $75.30, for a total value of $37,650.00. Following the sale, 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 document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on EIX. Truist Financial cut their price target on Edison International from $82.00 to $79.00 and set a "hold" rating for the company in a research note on Monday, May 18th. Wells Fargo & Company restated an "underweight" rating and issued a $62.00 price objective on shares of Edison International in a research note on Tuesday, April 21st. Bank of America dropped their price objective on shares of Edison International from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Monday, April 20th. JPMorgan Chase & Co. increased their target price on shares of Edison International from $75.00 to $76.00 and gave the stock a "neutral" rating in a research report on Friday, May 15th. Finally, Weiss Ratings upgraded shares of Edison International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, April 15th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $72.64.

About Edison International

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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