Frank Rimerman Advisors LLC Lowers Position in Edison International $EIX

Frank Rimerman Advisors LLC reduced its stake in Edison International (NYSE:EIX) by 7.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 17,205 shares of the utilities provider’s stock after selling 1,341 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Edison International were worth $888,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV boosted its position in Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 265 shares during the last quarter. Kentucky Trust Co lifted its holdings in Edison International by 66.7% during the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. American National Bank & Trust bought a new position in Edison International in the 2nd quarter worth approximately $32,000. Zions Bancorporation National Association UT bought a new position in shares of Edison International in the first quarter worth $35,000. Finally, Hilltop National Bank bought a new position in Edison International in the 2nd quarter worth about $44,000. Institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In related news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $55.27, for a total transaction of $99,486.00. Following the completion of the sale, the director owned 35,212 shares in the company, valued at approximately $1,946,167.24. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

Edison International Price Performance

Shares of NYSE EIX opened at $58.46 on Wednesday. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.64. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market capitalization of $22.50 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 0.83 and a beta of 0.85. The company has a 50 day simple moving average of $56.00 and a two-hundred day simple moving average of $54.48.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating 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 company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the prior year, the firm posted $1.51 EPS. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th were issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Tuesday, October 7th. Edison International’s dividend payout ratio is presently 43.27%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EIX. Zacks Research upgraded shares of Edison International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Wells Fargo & Company upgraded shares of Edison International to a “hold” rating in a research report on Tuesday, October 28th. Barclays decreased their price objective on Edison International from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Morgan Stanley upped their price target on shares of Edison International from $60.00 to $66.00 and gave the company an “underweight” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Edison International currently has an average rating of “Hold” and a consensus price target of $64.30.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.