17,586 Edison International $EIX Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC reduced its position in Edison International (NYSE:EIX) by 51.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,299 shares of the utilities provider’s stock after selling 17,586 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Edison International were worth $885,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Rakuten Investment Management Inc. bought a new position in Edison International in the 2nd quarter valued at about $4,750,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Edison International during the 2nd quarter valued at about $33,328,000. Jupiter Topco LLC acquired a new position in Edison International during the 2nd quarter valued at about $3,577,000. Corient Private Wealth LP increased its stake in Edison International by 49.7% during the 2nd quarter. Corient Private Wealth LP now owns 136,621 shares of the utilities provider’s stock valued at $10,171,000 after buying an additional 45,336 shares during the period. Finally, Allworth Financial LP bought a new stake in shares of Edison International during the 2nd quarter worth about $2,586,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX opened at $55.57 on Friday. The firm’s 50 day moving average is $60.44 and its 200-day moving average is $68.41. The stock has a market capitalization of $21.38 billion, a P/E ratio of 5.73, a P/E/G ratio of 2.23 and a beta of 0.62. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. Edison International has a 12-month low of $51.10 and a 12-month high of $81.62.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.36. The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.82 billion. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Equities research analysts anticipate that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Wednesday, October 7th will be issued a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Wednesday, October 7th. Edison International’s payout ratio is presently 36.19%.

Insider Activity

In related news, Director Peter Taylor sold 500 shares of Edison International stock in a transaction on Monday, October 12th. The stock was sold at an average price of $55.56, for a total value of $27,780.00. Following the transaction, the director directly owned 33,212 shares in the company, valued at $1,845,258.72. The trade was a 1.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Edison International from $65.00 to $60.00 and set an “underweight” rating for the company in a report on Friday, September 18th. Barclays lowered their price objective on shares of Edison International from $75.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, October 9th. The Goldman Sachs Group set a $67.00 target price on Edison International in a report on Thursday. Mizuho reaffirmed a “neutral” rating and set a $70.00 price target (down from $86.00) on shares of Edison International in a research note on Monday, August 31st. Finally, Truist Financial decreased their price target on Edison International from $63.00 to $62.00 and set a “hold” rating for the company in a research note on Monday. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $60.75.

About Edison International

Edison International is a publicly owned holding company based in Rosemead, California. Its principal subsidiary, Southern California Edison (SCE), is an electric utility that generates, transmits, and distributes electricity across central, coastal, and Southern California.

SCE provides electric service to residential, commercial, industrial, and public-sector customers and manages a large transmission and distribution network. The utility is also involved in grid modernization, wildfire mitigation, renewable energy integration, energy efficiency, and the development of electric transportation infrastructure.

Edison International’s history is rooted in Southern California Edison, which traces its origins to the late 19th century.