iA Global Asset Management Inc. Trims Stock Position in Edison International $EIX

Key Points

• iA Global Asset Management cut its Edison International stake by 34.2% in the fourth quarter, selling 15,218 shares and leaving it with 29,297 shares valued at about $1.76 million.
• Edison International reported stronger-than-expected quarterly earnings of $1.42 per share, topping estimates, while revenue rose 7.7% year over year to $4.10 billion.
• The company also paid a quarterly dividend of $0.8775 per share, implying an annualized yield of about 5.1%; analysts currently have an average Hold rating with a consensus price target of $72.64.

iA Global Asset Management Inc. cut its position in shares of Edison International (NYSE:EIX - Free Report) by 34.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,297 shares of the utilities provider's stock after selling 15,218 shares during the period. iA Global Asset Management Inc.'s holdings in Edison International were worth $1,758,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Edison International by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider's stock worth $3,134,268,000 after purchasing an additional 480,726 shares during the period. AQR Capital Management LLC raised its stake in Edison International by 8.0% during the third quarter. AQR Capital Management LLC now owns 10,763,984 shares of the utilities provider's stock worth $595,033,000 after purchasing an additional 801,082 shares during the period. Northern Trust Corp raised its stake in Edison International by 11.2% during the third quarter. Northern Trust Corp now owns 5,407,847 shares of the utilities provider's stock worth $298,946,000 after purchasing an additional 545,344 shares during the period. Legal & General Group Plc raised its stake in Edison International by 3.7% during the third quarter. Legal & General Group Plc now owns 4,561,255 shares of the utilities provider's stock worth $252,146,000 after purchasing an additional 162,336 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Edison International by 5.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,346,201 shares of the utilities provider's stock worth $260,859,000 after purchasing an additional 220,785 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Edison International

In other Edison International news, Director Peter J. Taylor sold 500 shares of the stock in a transaction that occurred 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 sale, the director directly owned 34,212 shares of the company's stock, valued at approximately $2,576,163.60. This represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company's stock.

Edison International Price Performance

Shares of EIX opened at $68.57 on Tuesday. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $76.21. The firm's 50 day moving average price is $71.14 and its 200 day moving average price is $65.16. The company has a market cap of $26.38 billion, a P/E ratio of 7.45, a PEG ratio of 1.20 and a beta of 0.68. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.10. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the firm earned $1.37 EPS. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, research analysts forecast that Edison International will post 6.12 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, April 7th were given a $0.8775 dividend. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. Edison International's dividend payout ratio is currently 38.11%.

Analysts Set New Price Targets

EIX has been the topic of a number of analyst reports. Seaport Research Partners downgraded shares of Edison International from a "buy" rating to a "neutral" rating in a research note on Monday, April 20th. TD Cowen boosted their price target on shares of Edison International from $71.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Wall Street Zen downgraded shares of Edison International from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Barclays reduced their price target on shares of Edison International from $78.00 to $77.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Finally, Bank of America reduced their price target on shares of Edison International from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. 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 company's stock. According to MarketBeat, Edison International has an average rating of "Hold" and a consensus price target of $72.64.

Edison International Profile

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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