Edison International $EIX Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in Edison International (NYSE:EIX) by 89.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,500 shares of the utilities provider’s stock after selling 424,400 shares during the period. Renaissance Technologies LLC’s holdings in Edison International were worth $3,622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EIX. Morningstar Investment Management LLC increased its position in shares of Edison International by 7.4% in the 1st quarter. Morningstar Investment Management LLC now owns 67,602 shares of the utilities provider’s stock worth $4,947,000 after purchasing an additional 4,656 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Edison International by 5.0% during the first quarter. Public Employees Retirement System of Ohio now owns 134,056 shares of the utilities provider’s stock worth $9,810,000 after purchasing an additional 6,358 shares during the last quarter. Compound Planning Inc. lifted its position in shares of Edison International by 16.7% during the first quarter. Compound Planning Inc. now owns 5,736 shares of the utilities provider’s stock worth $420,000 after purchasing an additional 821 shares during the last quarter. Modern Wealth Management LLC grew its stake in Edison International by 4.7% in the first quarter. Modern Wealth Management LLC now owns 6,185 shares of the utilities provider’s stock worth $455,000 after purchasing an additional 276 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Edison International by 1.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,468,184 shares of the utilities provider’s stock valued at $107,442,000 after buying an additional 14,575 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Price Performance

EIX opened at $68.57 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95. The company’s 50-day moving average price is $74.17 and its 200 day moving average price is $71.29. Edison International has a fifty-two week low of $52.00 and a fifty-two week high of $81.62. The firm has a market cap of $26.39 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 5.22 and a beta of 0.66.

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

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were given a dividend of $0.8775 per share. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a yield of 5.1%. Edison International’s payout ratio is currently 36.19%.

Analysts Set New Price Targets

A number of research analysts have commented on EIX shares. Truist Financial reduced their target price on Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a report on Tuesday. Seaport Research Partners downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Barclays reissued an “equal weight” rating and set a $75.00 price target (down from $78.00) on shares of Edison International in a research report on Friday, July 31st. Wells Fargo & Company restated an “underweight” rating and set a $62.00 price objective on shares of Edison International in a research note on Tuesday, April 21st. Finally, Mizuho lifted their price objective on shares of Edison International from $79.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.82.

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.