Man Group plc Cuts Stock Holdings in Edison International $EIX

Man Group plc lowered its stake in shares of Edison International (NYSE:EIX) by 16.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,899,209 shares of the utilities provider’s stock after selling 365,599 shares during the period. Man Group plc’s holdings in Edison International were worth $113,991,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Investment Management Corp of Ontario increased its position in shares of Edison International by 22.6% during the fourth quarter. Investment Management Corp of Ontario now owns 43,180 shares of the utilities provider’s stock worth $2,592,000 after acquiring an additional 7,970 shares during the period. Janus Henderson Group PLC increased its position in shares of Edison International by 2.5% during the fourth quarter. Janus Henderson Group PLC now owns 31,791 shares of the utilities provider’s stock worth $1,909,000 after acquiring an additional 762 shares during the period. Gotham Asset Management LLC purchased a new stake in shares of Edison International during the fourth quarter worth $492,000. Evolve Private Wealth LLC purchased a new stake in shares of Edison International during the fourth quarter worth $2,453,000. Finally, Claro Advisors Inc. purchased a new stake in shares of Edison International during the fourth quarter worth $238,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX stock opened at $70.97 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98. The firm has a fifty day moving average price of $70.87 and a 200 day moving average price of $67.29. The company has a market cap of $27.31 billion, a P/E ratio of 7.71, a PEG ratio of 1.25 and a beta of 0.67. Edison International has a 12 month low of $48.92 and a 12 month high of $76.21.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.10. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Sell-side analysts predict that Edison International will post 6.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EIX. Mizuho set a $79.00 price objective on Edison International in a research report on Thursday, February 19th. Morgan Stanley cut their price objective on Edison International from $71.00 to $70.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 21st. Seaport Research Partners lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $62.00 price objective on shares of Edison International in a research report on Tuesday, April 21st. Finally, LADENBURG THALM/SH SH reiterated a “sell” rating and set a $63.00 target price on shares of Edison International in a research note on Thursday, March 5th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.64.

Insider Activity at Edison International

In related news, Director Peter J. Taylor sold 500 shares of the business’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $75.30, for a total transaction of $37,650.00. Following the completion of the transaction, the director owned 34,212 shares in the company, valued at approximately $2,576,163.60. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company’s stock.

About Edison International

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.