Analysts Adjust Rating for Edison International Amid Mixed Fund Sentiment
On November 1, 2024, Ladenburg Thalmann revised their outlook for Edison International (LSE:0IFJ), changing it from Neutral to Sell.
Analyst Predictions Indicate Potential Price Growth
As of October 22, 2024, the average one-year price target for Edison International is set at 90.82 GBX/share. Forecasts vary with a low of 72.46 GBX and a high of 104.63 GBX. This average suggests a 20.65% increase from its latest closing price of 75.28 GBX/share.
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Revenue and Earnings Projections
Projected annual revenue for Edison International stands at 17,822MM, reflecting a 2.89% increase. The expected annual non-GAAP EPS is 5.16.
Understanding Institutional Sentiment
Currently, 1,632 funds or institutions report positions in Edison International, marking an increase of 44 owners, or 2.77%, over the last quarter. The average portfolio weight of all funds dedicated to 0IFJ is 0.31%, a rise of 3.74%. Total shares owned by institutions grew by 0.67%, reaching 409,371K shares in the last three months.
Institutional Investors’ Holding Changes
Capital Research Global Investors retains 19,366K shares, accounting for 5.00% ownership of the company. This is a decline from 20,345K shares, indicating a 5.05% decrease in holdings. Their portfolio allocation in 0IFJ decreased by 6.27% over the past quarter.
Pzena Investment Management has reduced their holdings as well, currently owning 12,875K shares, which is 3.33% of the company. Previous reports showed 13,605K shares, a drop of 5.67%. Their allocation decreased by 1.59% this quarter.
The Vanguard Total Stock Market Index Fund Investor Shares owns 12,092K shares, translating to 3.12% ownership. Their previous figure was 12,061K shares, indicating a slight 0.25% increase but a 1.02% reduction in portfolio allocation over the last quarter.
Meanwhile, Vanguard 500 Index Fund Investor Shares holds 9,876K shares or 2.55%. This is an increase from 9,666K shares, reflecting a rise of 2.12%, though the allocation in 0IFJ decreased by 1.81%.
Geode Capital Management currently owns 9,410K shares, which is 2.43% ownership. They previously reported 9,169K shares, showing a 2.56% increase, but their allocation in 0IFJ dropped significantly by 48.37% last quarter.
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This article originally published on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
