Drucker Wealth 3.0 LLC Sells 8,505 Shares of Edison International (NYSE:EIX)

Drucker Wealth 3.0 LLC decreased its stake in shares of Edison International (NYSE:EIX - Free Report) by 15.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,174 shares of the utilities provider's stock after selling 8,505 shares during the quarter. Drucker Wealth 3.0 LLC's holdings in Edison International were worth $3,766,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EIX. Swedbank AB grew its holdings in Edison International by 3.3% during the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider's stock valued at $41,791,000 after purchasing an additional 16,614 shares during the period. KBC Group NV grew its stake in shares of Edison International by 23.7% during the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider's stock valued at $4,898,000 after acquiring an additional 11,764 shares during the period. abrdn plc raised its stake in Edison International by 19.5% during the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider's stock worth $134,335,000 after acquiring an additional 276,656 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Edison International by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider's stock worth $192,955,000 after acquiring an additional 76,654 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new position in Edison International during the fourth quarter valued at approximately $583,000. Institutional investors own 88.95% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EIX. UBS Group raised Edison International from a "neutral" rating to a "buy" rating and decreased their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. The Goldman Sachs Group lowered their price objective on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Wells Fargo & Company reduced their target price on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. decreased their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $76.89.

Edison International Trading Up 1.0%

EIX stock traded up $0.56 during midday trading on Thursday, reaching $55.67. The company's stock had a trading volume of 751,673 shares, compared to its average volume of 3,036,427. The firm has a market capitalization of $21.42 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.07 and a beta of 0.77. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a fifty day simple moving average of $56.67 and a two-hundred day simple moving average of $63.93.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. The company had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm's quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 EPS. On average, equities research analysts predict that Edison International will post 4.95 EPS for the current year.

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.