Edison International $EIX Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP drastically reduced its holdings in Edison International by 92.8%, selling over 5.5 million shares, leaving them with approximately 428,000 shares valued at $25.2 million.
• Multiple institutional investors have recently changed positions in Edison International, with significant increases from firms like Rakuten Securities Inc. and Investment Management Corp VA ADV.
• Edison International's latest earnings report surpassed analyst estimates, with $0.97 earnings per share and revenues reaching $4.54 billion, signaling a 4.8% year-over-year growth.

Wellington Management Group LLP lowered its stake in shares of Edison International (NYSE:EIX - Free Report) by 92.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 427,938 shares of the utilities provider's stock after selling 5,554,578 shares during the period. Wellington Management Group LLP owned about 0.11% of Edison International worth $25,214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. KWB Wealth increased its stake in shares of Edison International by 1.5% in the 1st quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock valued at $869,000 after purchasing an additional 218 shares in the last quarter. Private Advisor Group LLC increased its stake in Edison International by 1.5% during the 1st quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider's stock worth $1,047,000 after buying an additional 254 shares in the last quarter. Investment Management Corp VA ADV increased its stake in Edison International by 159.6% during the 1st 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 in the last quarter. CarsonAllaria Wealth Management Ltd. increased its stake in Edison International by 11.5% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 2,735 shares of the utilities provider's stock worth $161,000 after buying an additional 281 shares in the last quarter. Finally, Triumph Capital Management increased its stake in Edison International by 5.5% during the 1st quarter. Triumph Capital Management now owns 5,592 shares of the utilities provider's stock worth $329,000 after buying an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Stock Up 2.6%

Shares of NYSE EIX traded up $1.43 during mid-day trading on Friday, hitting $56.15. The company had a trading volume of 3,527,985 shares, compared to its average volume of 4,339,098. The company has a market capitalization of $21.61 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 1.30 and a beta of 0.75. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77. The business's 50-day simple moving average is $52.92 and its 200 day simple moving average is $54.40.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (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 company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, analysts predict that Edison International will post 4.95 earnings per share for the current 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 paid a $0.8275 dividend. The ex-dividend date was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.9%. Edison International's dividend payout ratio (DPR) is currently 48.60%.

Analysts Set New Price Targets

Several research firms have commented on EIX. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Morgan Stanley restated an "overweight" rating on shares of Edison International in a research report on Thursday, August 21st. JPMorgan Chase & Co. dropped their price target 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. Barclays increased their price objective on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average 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.