Los Angeles Capital Management LLC Buys 1,339,806 Shares of Edison International $EIX

Los Angeles Capital Management LLC boosted its holdings in shares of Edison International (NYSE:EIX) by 237.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,904,568 shares of the utilities provider’s stock after acquiring an additional 1,339,806 shares during the period. Los Angeles Capital Management LLC owned about 0.49% of Edison International worth $98,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the stock. Investment Management Corp VA ADV boosted its holdings 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 valued at $25,000 after purchasing an additional 265 shares during the last quarter. Kentucky Trust Co raised its position in Edison International by 66.7% in 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 period. American National Bank & Trust acquired a new position in Edison International during the 2nd quarter worth $32,000. Zions Bancorporation National Association UT purchased a new stake in Edison International in the first quarter valued at $35,000. Finally, Hilltop National Bank purchased a new stake in shares of Edison International in the second quarter valued at about $44,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Transactions at Edison International

In related news, Director Peter J. Taylor sold 1,800 shares of the stock in a transaction on 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 $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 is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the topic of a number of analyst reports. Wall Street Zen raised Edison International from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Wells Fargo & Company upgraded shares of Edison International to a “hold” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. raised their target price on shares of Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Morgan Stanley lifted their price objective on shares of Edison International from $60.00 to $66.00 and gave the company an “underweight” rating in a research note on Wednesday, October 22nd. Finally, UBS Group lowered their price objective on shares of Edison International from $68.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $64.30.

Edison International Stock Up 0.8%

Shares of NYSE:EIX opened at $57.00 on Friday. Edison International has a 52-week low of $47.73 and a 52-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 $21.93 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of 0.83 and a beta of 0.85. The company has a fifty day moving average of $55.54 and a 200-day moving average of $54.45.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.18. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the company posted $1.51 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. On average, equities analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 7th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Tuesday, October 7th. Edison International’s dividend payout ratio (DPR) is currently 43.27%.

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.