Sumitomo Mitsui Trust Group Inc. Sells 13,025 Shares of Edison International $EIX

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Edison International (NYSE:EIX) by 1.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 955,282 shares of the utilities provider’s stock after selling 13,025 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Edison International worth $69,908,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Edison International by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider’s stock worth $3,134,268,000 after purchasing an additional 480,726 shares during the last quarter. State Street Corp lifted its stake in Edison International by 3.0% in the fourth quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock valued at $1,989,135,000 after buying an additional 953,800 shares during the period. AQR Capital Management LLC lifted its stake in Edison International by 69.9% in the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock valued at $1,097,475,000 after buying an additional 7,521,168 shares during the period. Geode Capital Management LLC boosted its holdings in Edison International by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock worth $803,407,000 after buying an additional 386,905 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Edison International by 12.3% during the fourth quarter. Northern Trust Corp now owns 6,070,324 shares of the utilities provider’s stock worth $364,341,000 after buying an additional 662,477 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on EIX. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $62.00 price target on shares of Edison International in a research note on Tuesday, April 21st. Barclays reduced their price objective on shares of Edison International from $78.00 to $77.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Seaport Research Partners cut shares of Edison International from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Morgan Stanley reaffirmed an “underweight” rating on shares of Edison International in a research note on Wednesday, June 24th. Finally, Bank of America cut their target price on shares of Edison International from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Edison International has an average rating of “Hold” and an average price target of $72.64.

Edison International Stock Up 0.7%

EIX stock traded up $0.56 during mid-day trading on Friday, hitting $75.20. 1,277,425 shares of the company were exchanged, compared to its average volume of 2,205,084. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.68 and a current ratio of 0.74. Edison International has a 1-year low of $50.16 and a 1-year high of $76.39. The firm’s 50 day simple moving average is $71.91 and its 200 day simple moving average is $69.14. The firm has a market cap of $28.93 billion, a P/E ratio of 8.16, a P/E/G ratio of 1.30 and a beta of 0.66.

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

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be paid a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a yield of 4.7%. Edison International’s dividend payout ratio is presently 38.11%.

Insider Transactions at Edison International

In other Edison International news, Director Peter J. Taylor sold 500 shares of the stock in a transaction dated Monday, April 13th. The stock was 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. This represents a 1.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company’s stock.

Edison International Company Profile

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.