USS Investment Management Ltd Lowers Position in Edison International $EIX

Key Points

• USS Investment Management Ltd decreased its stake in Edison International by 39.6%, selling 48,700 shares in the first quarter, while still holding 74,273 shares valued at approximately $4.38 million.
• Edison International reported a quarterly earnings of $0.97 per share, exceeding analysts' expectations of $0.88, with revenue up 4.8% year-over-year at $4.54 billion.
• The company declared a quarterly dividend of $0.8275 per share, providing a yield of 6.2% based on a payout ratio of 48.60%.

USS Investment Management Ltd trimmed its stake in shares of Edison International (NYSE:EIX - Free Report) by 39.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,273 shares of the utilities provider's stock after selling 48,700 shares during the quarter. USS Investment Management Ltd's holdings in Edison International were worth $4,377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIX. AQR Capital Management LLC boosted its position in Edison International by 190.5% during the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider's stock worth $319,169,000 after purchasing an additional 3,559,602 shares during the period. JPMorgan Chase & Co. raised its stake in Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock valued at $333,689,000 after purchasing an additional 2,987,318 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. raised its stake in Edison International by 197.2% during the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider's stock worth $258,997,000 after acquiring an additional 2,916,645 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Edison International by 38.3% during the first 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 in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Edison International by 42.7% during the first quarter. Ameriprise Financial Inc. now owns 3,988,091 shares of the utilities provider's stock worth $234,978,000 after acquiring an additional 1,194,296 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Trading Up 0.1%

EIX stock traded up $0.05 during trading on Friday, hitting $56.27. The company had a trading volume of 2,204,128 shares, compared to its average volume of 2,987,982. The business has a 50-day moving average of $53.79 and a 200-day moving average of $54.69. Edison International has a one year low of $47.73 and a one year high of $88.64. The stock has a market cap of $21.65 billion, a PE ratio of 8.26, a PEG ratio of 1.32 and a beta of 0.80. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03.

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

Edison International Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Monday, July 7th. Edison International's dividend payout ratio is presently 48.60%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EIX. Morgan Stanley reissued an "overweight" rating on shares of Edison International in a research note on Thursday, August 21st. Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Barclays boosted their target price on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. lowered their target price 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, UBS Group lowered their price objective on Edison International from $68.00 to $66.00 and set a "buy" rating for the company in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $71.15.

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.