Sumitomo Mitsui DS Asset Management Company Ltd Decreases Position in Edison International $EIX

by · The Cerbat Gem

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in shares of Edison International (NYSE:EIXFree Report) by 30.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,633 shares of the utilities provider’s stock after selling 20,692 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Edison International were worth $2,633,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Edison International during the second quarter worth approximately $268,801,000. AQR Capital Management LLC boosted its stake in Edison International by 83.5% during the 2nd quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock worth $510,649,000 after purchasing an additional 4,534,864 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Edison International by 4.9% during the second quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock worth $2,655,858,000 after buying an additional 2,386,562 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Edison International by 237.2% during the second quarter. Los Angeles Capital Management LLC now owns 1,904,568 shares of the utilities provider’s stock worth $98,276,000 after buying an additional 1,339,806 shares in the last quarter. Finally, Man Group plc lifted its stake in shares of Edison International by 109.6% in the second quarter. Man Group plc now owns 2,314,124 shares of the utilities provider’s stock worth $119,409,000 after buying an additional 1,209,964 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity at Edison International

In related news, Director Peter J. Taylor sold 1,800 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the completion of the transaction, the director owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Edison International Price Performance

NYSE:EIX opened at $60.73 on Wednesday. Edison International has a 52 week low of $47.73 and a 52 week high of $63.97. The stock’s fifty day moving average is $58.84 and its two-hundred day moving average is $55.97. The company has a market capitalization of $23.37 billion, a P/E ratio of 7.94, a P/E/G ratio of 0.88 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.

Edison International (NYSE:EIXGet Free Report) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.18. The business 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 company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 EPS. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Equities analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th will be paid a $0.8775 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, January 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.8%. Edison International’s payout ratio is presently 45.88%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EIX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. Cowen started coverage on Edison International in a research report on Wednesday, October 15th. They issued a “buy” rating for the company. Zacks Research downgraded Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. JPMorgan Chase & Co. dropped their target price on Edison International from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, December 12th. Finally, Jefferies Financial Group raised their target price on Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Edison International has an average rating of “Hold” and a consensus price target of $63.50.

View Our Latest Report on Edison International

About Edison International

(Free Report)

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.

Featured Stories