Massachusetts Financial Services Co. MA Trims Stake in Edison International $EIX

Massachusetts Financial Services Co. MA cut its holdings in shares of Edison International (NYSE:EIX) by 26.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,125,416 shares of the utilities provider’s stock after selling 1,467,586 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.07% of Edison International worth $228,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EIX. Vanguard Group Inc. boosted its holdings in Edison International by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock valued at $2,655,858,000 after purchasing an additional 2,386,562 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Edison International by 3.5% in the second quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock valued at $638,576,000 after buying an additional 407,039 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Edison International by 83.5% in the 2nd quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock valued at $510,649,000 after buying an additional 4,534,864 shares during the period. Invesco Ltd. lifted its stake in Edison International by 10.8% during the 2nd quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider’s stock worth $329,851,000 after acquiring an additional 621,924 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Edison International by 14.3% in the second quarter. Canada Pension Plan Investment Board now owns 5,322,796 shares of the utilities provider’s stock valued at $274,656,000 after purchasing an additional 664,199 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Price Performance

EIX opened at $62.48 on Tuesday. The company has a 50 day moving average of $59.25 and a two-hundred day moving average of $56.24. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. Edison International has a 52-week low of $47.73 and a 52-week high of $63.97. The company has a market cap of $24.04 billion, a P/E ratio of 8.17, a P/E/G ratio of 0.91 and a beta of 0.83.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.18. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the previous year, the firm posted $1.51 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. On average, analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.6%. This is a positive change from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 45.88%.

Wall Street Analyst Weigh In

EIX has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Edison International from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, December 12th. Wells Fargo & Company lowered shares of Edison International from an “overweight” rating to an “underweight” rating and set a $59.00 target price on the stock. in a research report on Tuesday. Wall Street Zen raised Edison International from a “hold” rating to a “buy” rating in a research note on Thursday, January 15th. UBS Group restated a “buy” rating on shares of Edison International in a research note on Friday. Finally, Jefferies Financial Group lifted their price target on Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Edison International presently has a consensus rating of “Hold” and an average price target of $63.80.

Insider Activity

In related news, Director Peter J. Taylor sold 1,800 shares of Edison International stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the transaction, the director owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This trade represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by company insiders.

Edison International 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.