Foster & Motley Inc. Reduces Stock Position in Edison International $EIX

Foster & Motley Inc. lessened its stake in Edison International (NYSE:EIX) by 16.3% in the third quarter, HoldingsChannel reports. The firm owned 55,293 shares of the utilities provider’s stock after selling 10,763 shares during the period. Foster & Motley Inc.’s holdings in Edison International were worth $3,057,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of EIX. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of Edison International by 2.7% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider’s stock worth $383,000 after acquiring an additional 196 shares during the period. Kentucky Trust Co boosted its position in Edison International by 66.7% in the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. MAI Capital Management boosted its position in Edison International by 20.8% in the second quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 202 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Edison International by 2.4% during the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after purchasing an additional 211 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Edison International by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock valued at $3,818,000 after purchasing an additional 213 shares during the last quarter. 88.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of research reports. Barclays dropped their price objective on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. JPMorgan Chase & Co. decreased their price target on shares of Edison International from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, December 12th. Wall Street Zen downgraded Edison International from a “buy” rating to a “hold” rating in a research report on Wednesday. LADENBURG THALM/SH SH upped their price target on Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Cowen assumed coverage on Edison International in a research report on Wednesday, October 15th. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.50.

Edison International Price Performance

Shares of Edison International stock opened at $59.63 on Friday. The company has a market capitalization of $22.94 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.85 and a beta of 0.83. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. The stock’s 50-day simple moving average is $58.52 and its 200-day simple moving average is $55.69. Edison International has a 52 week low of $47.73 and a 52 week high of $70.50.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.18. The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. As a group, analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th will be issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.9%. This is a boost from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, January 7th. Edison International’s payout ratio is presently 45.88%.

Insiders Place Their Bets

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of Edison International stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total value of $99,486.00. Following the sale, the director directly owned 35,212 shares in the company, valued at approximately $1,946,167.24. The trade was a 4.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

About Edison International

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.