Pictet Asset Management Holding SA Cuts Position in Edison International $EIX

Pictet Asset Management Holding SA lowered its holdings in Edison International (NYSE:EIX) by 65.0% in the first quarter, Holdings Channel.com reports. The fund owned 337,928 shares of the utilities provider’s stock after selling 628,000 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Edison International were worth $24,730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. increased its holdings in shares of Edison International by 5.3% in the 4th quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider’s stock valued at $190,000 after purchasing an additional 159 shares in the last quarter. LVW Advisors LLC boosted its holdings in Edison International by 4.6% during the fourth quarter. LVW Advisors LLC now owns 4,224 shares of the utilities provider’s stock worth $254,000 after buying an additional 186 shares in the last quarter. Huntington National Bank grew its position in Edison International by 6.2% during the fourth quarter. Huntington National Bank now owns 3,351 shares of the utilities provider’s stock worth $201,000 after buying an additional 196 shares during the period. Diligent Investors LLC increased its holdings in Edison International by 1.5% in the third quarter. Diligent Investors LLC now owns 13,895 shares of the utilities provider’s stock valued at $768,000 after buying an additional 201 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Edison International by 2.4% in the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after buying an additional 211 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Peter J. Taylor sold 500 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 34,212 shares of the company’s stock, valued at approximately $2,576,163.60. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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.

Edison International Price Performance

Shares of NYSE:EIX opened at $73.51 on Thursday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.68 and a current ratio of 0.74. The business’s fifty day moving average price is $71.04 and its two-hundred day moving average price is $68.42. The stock has a market cap of $28.28 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 1.29 and a beta of 0.66. Edison International has a one year low of $49.14 and a one year high of $76.21.

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, topping analysts’ consensus estimates of $1.32 by $0.10. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period 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. On average, analysts forecast that Edison International will post 6.12 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Tuesday, July 7th. Edison International’s payout ratio is currently 38.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley reissued an “underweight” rating on shares of Edison International in a research note on Wednesday, June 24th. Truist Financial decreased their target price on Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Barclays lowered their target price on Edison International from $78.00 to $77.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Bank of America cut their price target on Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $62.00 price objective on shares of Edison International in a research report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Edison International has an average rating of “Hold” and an average target price of $72.64.

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.