Douglas Lane & Associates LLC Sells 51,926 Shares of Edison International $EIX

Key Points

• Douglas Lane & Associates LLC has reduced its stake in Edison International by 22.4%, selling 51,926 shares and holding 179,538 shares worth approximately $9.26 million.
• Several institutional investors increased their positions in Edison International, including Vanguard Group and JPMorgan Chase & Co., indicating growing confidence in the company.
• Analysts have mixed ratings for Edison International, with revised price targets and a consensus rating of "Moderate Buy", and current price target around $71.15.

Douglas Lane & Associates LLC decreased its position in shares of Edison International (NYSE:EIX - Free Report) by 22.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,538 shares of the utilities provider's stock after selling 51,926 shares during the quarter. Douglas Lane & Associates LLC's holdings in Edison International were worth $9,264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Edison International by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider's stock worth $2,892,003,000 after buying an additional 493,778 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Edison International by 19.8% during the 1st quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider's stock worth $340,000,000 after purchasing an additional 953,897 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Edison International by 111.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock worth $333,689,000 after purchasing an additional 2,987,318 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Edison International by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider's stock worth $319,169,000 after purchasing an additional 3,559,602 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Edison International by 7.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider's stock worth $412,246,000 after purchasing an additional 371,043 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Analysts Set New Price Targets

EIX has been the subject of a number of analyst reports. UBS Group decreased their price objective on Edison International from $68.00 to $66.00 and set a "buy" rating for the company in a research note on Thursday. JPMorgan Chase & Co. decreased their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research note 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 research note on Monday, August 4th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Edison International in a research note on Thursday, August 21st. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.15.

Edison International Trading Up 0.1%

Shares of NYSE:EIX opened at $56.27 on Monday. The stock has a market cap of $21.65 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 1.32 and a beta of 0.80. Edison International has a 52-week low of $47.73 and a 52-week high of $88.64. The business has a 50-day moving average price of $53.79 and a 200-day moving average price of $54.72. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03.

Edison International (NYSE:EIX - Get Free Report) last posted its 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. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%.Edison International's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.23 earnings per share. 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 business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's dividend payout ratio (DPR) is 48.60%.

Edison International 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.

Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.