Flputnam Investment Management Co. Sells 102,002 Shares of Edison International $EIX

Key Points

• Flputnam Investment Management Co. reduced its holdings in Edison International by 91.0% in Q1, now owning only 10,147 shares valued at $598,000.
• Edison International reported $0.97 EPS for the latest quarter, exceeding expectations and showing a revenue increase of 4.8% from the previous year.
• The company declared a quarterly dividend of $0.8275, reflecting a 5.9% dividend yield and a payout ratio of 48.60%.

Flputnam Investment Management Co. reduced its stake in Edison International (NYSE:EIX - Free Report) by 91.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,147 shares of the utilities provider's stock after selling 102,002 shares during the period. Flputnam Investment Management Co.'s holdings in Edison International were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in EIX. JPMorgan Chase & Co. lifted its stake in shares of Edison International by 111.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock worth $333,689,000 after acquiring an additional 2,987,318 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Edison International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock worth $223,057,000 after acquiring an additional 1,673,204 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Edison International by 38.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider's stock worth $274,485,000 after acquiring an additional 1,289,062 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Edison International by 1,946.0% in the 1st quarter. Allianz Asset Management GmbH now owns 1,255,449 shares of the utilities provider's stock worth $73,971,000 after acquiring an additional 1,194,088 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Edison International in the 1st quarter worth approximately $61,916,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Down 0.4%

EIX stock traded down $0.20 during trading hours on Friday, hitting $54.47. The company's stock had a trading volume of 2,054,246 shares, compared to its average volume of 2,647,436. 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 company has a market capitalization of $20.96 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 1.28 and a beta of 0.80. Edison International has a 12 month low of $47.73 and a 12 month high of $88.64. The stock has a 50 day moving average price of $53.50 and a two-hundred day moving average price of $54.59.

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

Edison International Dividend Announcement

The company also recently disclosed 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 dividend yield of 6.1%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's dividend payout ratio is currently 48.60%.

Analyst Ratings Changes

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