Foster & Motley Inc. Decreases Position in Edison International $EIX

Foster & Motley Inc. lessened its holdings in shares of Edison International (NYSE:EIX) by 17.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,056 shares of the utilities provider’s stock after selling 14,219 shares during the period. Foster & Motley Inc.’s holdings in Edison International were worth $3,408,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Edison International by 1.0% during 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 purchasing an additional 493,778 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Edison International by 19.8% during the 1st 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 during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Edison International by 111.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock valued at $333,689,000 after purchasing an additional 2,987,318 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Edison International by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock valued at $319,169,000 after purchasing an additional 3,559,602 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Edison International by 38.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider’s stock valued at $274,485,000 after purchasing an additional 1,289,062 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of EIX opened at $56.75 on Friday. The business’s 50-day moving average is $55.20 and its two-hundred day moving average is $54.36. The company has a market capitalization of $21.84 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.97 and a beta of 0.80. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same period last year, the firm earned $1.23 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Research analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.8%. Edison International’s dividend payout ratio (DPR) is 48.60%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EIX. TD Cowen began coverage on Edison International in a research note on Thursday. They issued a “buy” rating and a $71.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research note on Wednesday, October 8th. Jefferies Financial Group lowered Edison International from a “buy” rating to a “hold” rating and reduced their target price for the stock from $70.00 to $57.00 in a research note on Thursday, October 2nd. UBS Group reduced their target price on Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Finally, Cowen began coverage on Edison International in a research note on Wednesday. They issued a “buy” rating for the company. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $65.25.

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.