B. Metzler seel. Sohn & Co. Holding AG has recently stepped into the scene by securing a new stake in Edison International (NYSE:EIX – Free Report) during the third quarter, as per the latest 13F filing with the Securities and Exchange Commission. They acquired 15,923 shares of the utility company, investing around $1,387,000.
In recent times, various other institutional investors and hedge funds have adjusted or initiated their holdings in the company. Highline Wealth Partners LLC, for instance, joined the ranks with a fresh position in the third quarter, investing about $26,000. In the second quarter, Ashton Thomas Private Wealth LLC made a similar move with an investment roughly estimated at $27,000. During the same third quarter, Eastern Bank also jumped on board, purchasing shares worth approximately $27,000. Country Trust Bank followed suit in the second quarter with a $29,000 stake, and Farmers & Merchants Investments Inc. increased its holdings by 53.8%, now owning 400 shares valued similarly after acquiring an additional 140 shares. It’s noteworthy that hedge funds and institutional investors collectively hold 88.95% of the company’s shares.
Several analysts have been keeping a keen eye on Edison International, offering their insights through various reports. Jefferies Financial Group started coverage on November 7th with a “buy” rating and set a price target of $93.00 for the stock. Barclays, in an October 30th research note, adjusted their price estimate from $89.00 to $91.00, maintaining an “equal weight” status. On September 4th, UBS Group raised their price objective from $86.00 to $89.00 and issued a “neutral” rating. Shortly after, on September 11th, Argus increased their target price from $82.00 to $97.00, also giving it a “buy” rating. Royal Bank of Canada wasn’t left behind, upping their target from $94.00 to $100.00 and rating the stock as “outperform” on October 4th. In summary, one analyst has placed a sell rating, four are on hold, and eight have rated it a buy, according to MarketBeat.com’s data. The stock holds a consensus rating of “Moderate Buy” with an average target price of $88.75.
On the trading front, NYSE:EIX shares opened at $86.51 last Friday. The stock marks a yearly low of $63.15 and a high of $88.77. It boasts a fifty-day moving average of $84.64, with the 200-day moving average slightly lower at $80.08. Edison International’s market cap stands at $33.49 billion, with a price-to-earnings ratio of 25.37, a PEG ratio of 2.05, and a beta of 0.92. The company’s debt-to-equity ratio is 1.96, and it maintains a current ratio of 0.88 and a quick ratio of 0.81.
On October 29th, Edison International reported its quarterly earnings, registering earnings per share (EPS) of $1.51, which surpassed analysts’ expectation of $1.38 by $0.13. The company achieved a net margin of 8.52% and returned 13.17% on equity. The quarter’s revenue hit $5.20 billion, exceeding the consensus estimate of $5.01 billion and showing a 10.6% growth compared to the equivalent quarter of the previous year. Analysts predict that Edison International will report earnings of 4.95 per share for the current year.
Edison International has also announced a quarterly dividend, which was dispensed on October 31st. Shareholders of record by October 7th received a dividend of $0.78 per share. This dividend equates to an annualized amount of $3.12 and represents a yield of 3.61%. The company’s payout ratio is pinned at 91.50%.
In terms of insider activity, Edison International’s CEO J Andrew Murphy offloaded 23,896 shares on August 26th at an average price of $85.45, totaling $2,041,913.20. Following this transaction, Murphy retains 19,850 shares worth approximately $1,696,182.50. This move marked a significant 54.62% reduction in his stake. The details of the transaction can be found in a legal filing with the Securities and Exchange Commission. Additionally, Vice President Adam S. Umanoff sold 25,619 shares on October 31st for an average price of $83.05, totaling $2,127,657.95. Over the last ninety days, insiders have sold 49,516 shares worth $4,169,652, and they hold roughly 1.03% of the company’s stock.
Edison International, through its subsidiaries, provides electric power generation and distribution across a vast 50,000-square-mile area in southern California, serving residential, commercial, industrial, and other sectors.
For those curious about what other funds are involved in Edison International, HoldingsChannel.com offers updated 13F filings and insider trading activities for Edison International (NYSE:EIX – Free Report).
If you’re keen to stay informed with the latest news and analyst ratings on Edison International, consider signing up for MarketBeat.com’s free daily email newsletter, offering concise updates directly to your inbox.
