Sittner & Nelson LLC Has $221,000 Stake in Edison International $EIX

Sittner & Nelson LLC lowered its stake in shares of Edison International (NYSE:EIX) by 31.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,288 shares of the utilities provider’s stock after selling 2,000 shares during the quarter. Sittner & Nelson LLC’s holdings in Edison International were worth $221,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EIX. Vanguard Group Inc. raised its holdings in Edison International by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock valued at $2,892,003,000 after acquiring an additional 493,778 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Edison International by 3.5% in the second quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock worth $638,576,000 after purchasing an additional 407,039 shares during the period. Invesco Ltd. raised its stake in Edison International by 19.8% in the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider’s stock valued at $340,000,000 after purchasing an additional 953,897 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Edison International by 111.6% during the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock worth $333,689,000 after purchasing an additional 2,987,318 shares during the period. Finally, AQR Capital Management LLC grew its stake 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 buying an additional 3,559,602 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Insider Activity

In related news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $55.27, for a total transaction of $99,486.00. Following the sale, the director owned 35,212 shares in the company, valued at $1,946,167.24. This represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Edison International Stock Performance

NYSE:EIX opened at $59.07 on Friday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.81 and a current ratio of 0.82. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64. The company has a 50 day simple moving average of $55.76 and a two-hundred day simple moving average of $54.45. The company has a market capitalization of $22.73 billion, a PE ratio of 7.72, a P/E/G ratio of 0.83 and a beta of 0.85.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.18. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period in the prior year, the firm posted $1.51 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th were given a $0.8275 dividend. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.6%. Edison International’s dividend payout ratio (DPR) is 43.27%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EIX. JPMorgan Chase & Co. upped their price target on shares of Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Jefferies Financial Group boosted their price objective on shares of Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. TD Cowen initiated coverage on Edison International in a report on Thursday, October 16th. They issued a “buy” rating and a $71.00 target price on the stock. LADENBURG THALM/SH SH boosted their price target on Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Morgan Stanley upped their price objective on shares of Edison International from $60.00 to $66.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $64.30.

About Edison International

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.