Northern Trust Corp Sells 596,469 Shares of Edison International $EIX

Key Points

• Northern Trust Corp reduced its stake in Edison International by 10.4%, selling 596,469 shares, and now holds approximately 1.34% of the company valued at $304 million.
• Edison International recently declared a quarterly dividend of $0.8275 per share, resulting in an annualized yield of 5.9% and a payout ratio of 48.60%.

Northern Trust Corp cut its stake in shares of Edison International (NYSE:EIX - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,160,565 shares of the utilities provider's stock after selling 596,469 shares during the quarter. Northern Trust Corp owned 1.34% of Edison International worth $304,060,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Rakuten Securities Inc. boosted its position in shares of Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after buying an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Edison International in the first quarter worth $25,000. Investment Management Corp VA ADV boosted its position in shares of Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after buying an additional 265 shares during the period. Bellwether Advisors LLC acquired a new stake in shares of Edison International in the fourth quarter worth $34,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Edison International in the first quarter worth $35,000. 88.95% of the stock is owned by institutional investors.

Edison International Stock Up 0.8%

Shares of NYSE:EIX traded up $0.44 during midday trading on Tuesday, hitting $54.94. 3,221,258 shares of the stock were exchanged, compared to its average volume of 3,542,482. Edison International has a 52-week low of $47.73 and a 52-week high of $88.77. The business's fifty day simple moving average is $52.74 and its two-hundred day simple moving average is $54.36. 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 $21.14 billion, a PE ratio of 8.07, a P/E/G ratio of 1.28 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 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period last year, the company earned $1.23 earnings per share. The business's 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. As a group, research analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders 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 6.0%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio (DPR) is 48.60%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Barclays raised their target price on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. decreased their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Edison International in a research report on Thursday, August 21st. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.21.

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.