CIBC Asset Management Inc Has $5.95 Million Stock Position in Edison International $EIX

Key Points

• CIBC Asset Management boosted its Edison International stake by 60% in the fourth quarter, ending with 99,178 shares worth about $5.95 million.
• Edison International shares were up 2.3%, and the stock recently traded at $73.46, near its 52-week high of $76.21.
• The company beat quarterly EPS expectations with $1.42 per share versus $1.32 expected, while analysts currently rate the stock Hold with a consensus price target of $72.64.

CIBC Asset Management Inc raised its holdings in Edison International (NYSE:EIX - Free Report) by 60.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 99,178 shares of the utilities provider's stock after acquiring an additional 37,175 shares during the quarter. CIBC Asset Management Inc's holdings in Edison International were worth $5,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. LVW Advisors LLC increased its position in Edison International by 4.6% in the 4th quarter. LVW Advisors LLC now owns 4,224 shares of the utilities provider's stock valued at $254,000 after acquiring an additional 186 shares during the period. Huntington National Bank increased its position in shares of Edison International by 6.2% during the fourth quarter. Huntington National Bank now owns 3,351 shares of the utilities provider's stock worth $201,000 after buying an additional 196 shares during the period. Diligent Investors LLC increased its position in shares of Edison International by 1.5% during the third quarter. Diligent Investors LLC now owns 13,895 shares of the utilities provider's stock worth $768,000 after buying an additional 201 shares during the period. Empowered Funds LLC increased its position in shares of Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider's stock worth $523,000 after buying an additional 211 shares during the period. Finally, Addison Advisors LLC increased its position in shares of Edison International by 23.3% during the fourth quarter. Addison Advisors LLC now owns 1,192 shares of the utilities provider's stock worth $72,000 after buying an additional 225 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Trading Up 2.3%

NYSE:EIX opened at $73.46 on Friday. 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 stock has a market capitalization of $28.27 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 1.27 and a beta of 0.67. The firm has a fifty day simple moving average of $70.99 and a two-hundred day simple moving average of $66.49. Edison International has a 12 month low of $47.73 and a 12 month high of $76.21.

Edison International (NYSE:EIX - Get Free Report) last posted 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 business had revenue of $4.10 billion during the quarter, compared to analysts' expectations of $4.15 billion. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $1.37 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Analysts expect that Edison International will post 6.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EIX shares. Weiss Ratings upgraded shares of Edison International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, April 15th. Bank of America decreased their price objective on shares of Edison International from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Monday, April 20th. Morgan Stanley decreased their price objective on shares of Edison International from $71.00 to $70.00 and set an "underweight" rating for the company in a research report on Tuesday, April 21st. Seaport Research Partners cut shares of Edison International from a "buy" rating to a "neutral" rating in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. increased their price objective 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. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $72.64.

Insider Buying and Selling

In other Edison International news, Director Peter J. Taylor sold 500 shares of the firm's stock in a transaction 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 completion of the sale, the director directly owned 34,212 shares in the company, valued at approximately $2,576,163.60. This trade represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company's stock.

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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