Korea Investment CORP Sells 162,485 Shares of Edison International $EIX

Key Points

• Korea Investment CORP has significantly reduced its stake in Edison International by 49.8%, selling 162,485 shares and now holding 164,025 shares valued at approximately $9.66 million.
• Edison International reported $0.97 earnings per share for the last quarter, surpassing analysts' expectations of $0.88, with revenue reaching $4.54 billion.
• The company recently announced a quarterly dividend of $0.8275 per share, providing a dividend yield of 6.1%.

Korea Investment CORP reduced its holdings in shares of Edison International (NYSE:EIX - Free Report) by 49.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 164,025 shares of the utilities provider's stock after selling 162,485 shares during the period. Korea Investment CORP's holdings in Edison International were worth $9,664,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Brooklyn Investment Group grew its stake in shares of Edison International by 89.3% in the 1st quarter. Brooklyn Investment Group now owns 1,456 shares of the utilities provider's stock valued at $86,000 after buying an additional 687 shares during the period. Versor Investments LP grew its stake in shares of Edison International by 64.4% in the 1st quarter. Versor Investments LP now owns 65,685 shares of the utilities provider's stock valued at $3,870,000 after buying an additional 25,720 shares during the period. Algert Global LLC grew its stake in shares of Edison International by 1,175.3% in the 1st quarter. Algert Global LLC now owns 46,675 shares of the utilities provider's stock valued at $2,750,000 after buying an additional 43,015 shares during the period. Cresset Asset Management LLC grew its stake in shares of Edison International by 136.8% in the 1st quarter. Cresset Asset Management LLC now owns 7,179 shares of the utilities provider's stock valued at $423,000 after buying an additional 4,147 shares during the period. Finally, Horizon Investments LLC grew its stake in shares of Edison International by 11.9% in the 1st quarter. Horizon Investments LLC now owns 19,006 shares of the utilities provider's stock valued at $1,103,000 after buying an additional 2,022 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of Edison International stock traded up $0.52 during mid-day trading on Wednesday, hitting $55.44. 2,150,488 shares of the stock were exchanged, compared to its average volume of 3,560,460. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77. The company has a 50-day simple moving average of $52.84 and a 200 day simple moving average of $54.37. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. The company has a market capitalization of $21.34 billion, a P/E ratio of 8.14, a P/E/G ratio of 1.29 and a beta of 0.75.

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. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The firm had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter last year, the firm earned $1.23 EPS. The company's quarterly revenue was up 4.8% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were given a dividend of $0.8275 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.0%. Edison International's dividend payout ratio (DPR) is currently 48.60%.

Analyst Ratings Changes

Several analysts have recently commented on EIX shares. Barclays raised their target price on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Morgan Stanley reiterated an "overweight" rating on shares of Edison International in a research note on Thursday, August 21st. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. JPMorgan Chase & Co. cut 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. Finally, Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a research note 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. According to data from MarketBeat, Edison International currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.21.

About Edison International

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.