Edison International $EIX Shares Sold by Bank of Montreal Can

by · The Cerbat Gem

Bank of Montreal Can lowered its position in Edison International (NYSE:EIX – Free Report) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 683,152 shares of the utilities provider’s stock after selling 26,110 shares during the quarter. Bank of Montreal Can’s holdings in Edison International were worth $35,251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Edison International by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,562,128 shares of the utilities provider’s stock worth $150,961,000 after buying an additional 145,358 shares during the last quarter. Trilogy Capital Inc. boosted its position in shares of Edison International by 24.9% in the first quarter. Trilogy Capital Inc. now owns 46,435 shares of the utilities provider’s stock worth $2,736,000 after acquiring an additional 9,257 shares during the last quarter. Edgestream Partners L.P. grew its holdings in Edison International by 41.4% in the first quarter. Edgestream Partners L.P. now owns 141,947 shares of the utilities provider’s stock valued at $8,364,000 after purchasing an additional 41,537 shares during the period. Ontario Teachers Pension Plan Board increased its position in Edison International by 64.6% during the first quarter. Ontario Teachers Pension Plan Board now owns 85,883 shares of the utilities provider’s stock worth $5,060,000 after purchasing an additional 33,718 shares during the last quarter. Finally, SYM FINANCIAL Corp acquired a new position in Edison International during the first quarter worth approximately $351,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Trading Down 0.4%

Shares of EIX opened at $56.55 on Friday. Edison International has a 12 month low of $47.73 and a 12 month high of $88.64. The stock’s 50-day moving average is $55.52 and its two-hundred day moving average is $54.44. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a market cap of $21.76 billion, a PE ratio of 7.39, a P/E/G ratio of 0.83 and a beta of 0.85.

Edison International (NYSE:EIX – Get Free Report) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.16 by $0.18. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $1.51 EPS. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Equities analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 7th were issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Tuesday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 43.27%.

Analyst Ratings Changes

Several analysts have recently issued reports on EIX shares. Cowen assumed coverage on shares of Edison International in a research note on Wednesday, October 15th. They set a “buy” rating for the company. JPMorgan Chase & Co. boosted their price target on Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Wells Fargo & Company upgraded Edison International to a “hold” rating in a report on Tuesday, October 28th. Wall Street Zen upgraded Edison International from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, TD Cowen began coverage on shares of Edison International in a research report on Thursday, October 16th. They set a “buy” rating and a $71.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.30.

Get Our Latest Research Report on EIX

Insider Transactions at Edison International

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the business’s 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 transaction, the director owned 35,212 shares in the company, valued at $1,946,167.24. The trade was a 4.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Edison International Profile

(Free Report)

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.

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