KCM Investment Advisors LLC Decreases Stake in Edison International $EIX

KCM Investment Advisors LLC lessened its stake in shares of Edison International (NYSE:EIX) by 18.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,943 shares of the utilities provider’s stock after selling 880 shares during the period. KCM Investment Advisors LLC’s holdings in Edison International were worth $203,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EIX. Harvest Portfolios Group Inc. lifted its stake in shares of Edison International by 7.9% during the second quarter. Harvest Portfolios Group Inc. now owns 133,046 shares of the utilities provider’s stock worth $6,865,000 after buying an additional 9,709 shares during the period. SouthState Corp raised its stake in Edison International by 646.7% in the 2nd quarter. SouthState Corp now owns 896 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 776 shares during the last quarter. Andra AP fonden lifted its position in Edison International by 68.1% during the 2nd quarter. Andra AP fonden now owns 564,700 shares of the utilities provider’s stock worth $29,139,000 after acquiring an additional 228,700 shares during the period. Resona Asset Management Co. Ltd. lifted its position in Edison International by 6.3% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 137,188 shares of the utilities provider’s stock worth $7,066,000 after acquiring an additional 8,154 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in Edison International during the 2nd quarter valued at about $244,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling

In related 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 completion of the sale, the director owned 35,212 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EIX. LADENBURG THALM/SH SH raised their price objective on Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Wall Street Zen downgraded shares of Edison International from a “buy” rating to a “hold” rating in a report on Sunday. Jefferies Financial Group raised their price target on shares of Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price objective on shares of Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Finally, Zacks Research raised Edison International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.30.

Edison International Trading Up 0.8%

EIX stock opened at $57.00 on Monday. Edison International has a 52-week low of $47.73 and a 52-week high of $88.64. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. The firm has a market cap of $21.93 billion, a P/E ratio of 7.45, a PEG ratio of 0.83 and a beta of 0.85. The company’s 50-day simple moving average is $55.54 and its 200-day simple moving average is $54.40.

Edison International (NYSE:EIX) 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 company 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%.Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 EPS. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. As a group, equities analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 7th were paid a $0.8275 dividend. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.8%. Edison International’s dividend payout ratio (DPR) is currently 43.27%.

Edison International Company Profile

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.