Edison International $EIX Shares Sold by Comerica Bank

Key Points

• Comerica Bank reduced its holdings in Edison International by 11.6%, owning 68,014 shares worth approximately $4 million after selling 8,892 shares in the recent quarter.
• Other institutional investors are actively adjusting their positions, with Oppenheimer & Co. increasing its stake by 98.7% and GAMMA Investing LLC raising it by 4,157.4%.
• Edison International recently reported $0.97 EPS for the quarter, exceeding analyst expectations, and announced a quarterly dividend yielding 5.9%.

Comerica Bank lessened its holdings in shares of Edison International (NYSE:EIX - Free Report) by 11.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 68,014 shares of the utilities provider's stock after selling 8,892 shares during the quarter. Comerica Bank's holdings in Edison International were worth $4,007,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EIX. Rakuten Securities Inc. raised its position in Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Edison International during the first quarter valued at approximately $25,000. Investment Management Corp VA ADV lifted its position in shares of Edison International by 159.6% during the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after purchasing an additional 265 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Edison International in the first quarter valued at $35,000. Finally, Ameriflex Group Inc. acquired a new stake in Edison International during the 4th quarter valued at $56,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Performance

NYSE EIX traded down $1.01 during trading hours on Thursday, hitting $54.34. The company had a trading volume of 2,211,355 shares, compared to its average volume of 4,311,769. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The firm has a market cap of $20.91 billion, a P/E ratio of 7.98, a price-to-earnings-growth ratio of 1.32 and a beta of 0.80. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.68. The business has a fifty day simple moving average of $53.36 and a 200-day simple moving average of $54.52.

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

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were paid a $0.8275 dividend. The ex-dividend date was Monday, July 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.1%. Edison International's dividend payout ratio (DPR) is presently 48.60%.

Analysts Set New Price Targets

EIX has been the subject of a number of analyst reports. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Barclays increased their price target on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, August 4th. JPMorgan Chase & Co. dropped their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Finally, Morgan Stanley restated an "overweight" rating on shares of Edison International in a research note on Thursday, August 21st. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $75.21.

Edison International Company 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.