Daytona Street Capital LLC acquired a new position in shares of Edison International (NYSE:EIX – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the utilities provider’s stock, valued at approximately $536,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Edison International in the 2nd quarter valued at $3,340,412,000. Legal & General Group Plc acquired a new position in Edison International during the 2nd quarter worth $329,766,000. Bank of New York Mellon Corp acquired a new position in Edison International during the 2nd quarter worth $309,361,000. Amundi lifted its position in Edison International by 27.0% during the 2nd quarter. Amundi now owns 3,570,726 shares of the utilities provider’s stock worth $265,843,000 after acquiring an additional 759,236 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Edison International during the second quarter valued at about $261,275,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Edison International
In related news, Director Peter Taylor sold 500 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $55.56, for a total transaction of $27,780.00. Following the completion of the transaction, the director owned 33,212 shares in the company, valued at $1,845,258.72. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on EIX shares. Weiss Ratings downgraded Edison International from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, September 10th. The Goldman Sachs Group set a $67.00 price objective on Edison International in a research note on Thursday. Bank of America cut Edison International from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $81.00 to $51.00 in a research report on Tuesday, September 1st. Argus restated a “hold” rating on shares of Edison International in a research note on Wednesday, August 26th. Finally, Mizuho restated a “neutral” rating and set a $70.00 target price (down from $86.00) on shares of Edison International in a research note on Monday, August 31st. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $60.75.
Get Our Latest Stock Analysis on Edison International
Edison International Stock Performance
NYSE:EIX opened at $55.57 on Friday. The firm has a market capitalization of $21.38 billion, a PE ratio of 5.73, a price-to-earnings-growth ratio of 2.23 and a beta of 0.62. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95. Edison International has a 12-month low of $51.10 and a 12-month high of $81.62. The firm has a 50-day moving average price of $60.44 and a 200 day moving average price of $68.41.
Edison International (NYSE:EIX – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.36. The company had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.82 billion. Edison International had a return on equity of 15.53% and a net margin of 20.30%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Research analysts anticipate that Edison International will post 6.13 earnings per share for the current fiscal year.
Edison International Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Wednesday, October 7th will be issued a $0.8775 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 6.3%. Edison International’s dividend payout ratio is presently 36.19%.
Edison International Profile
Edison International is a publicly owned holding company based in Rosemead, California. Its principal subsidiary, Southern California Edison (SCE), is an electric utility that generates, transmits, and distributes electricity across central, coastal, and Southern California.
SCE provides electric service to residential, commercial, industrial, and public-sector customers and manages a large transmission and distribution network. The utility is also involved in grid modernization, wildfire mitigation, renewable energy integration, energy efficiency, and the development of electric transportation infrastructure.
Edison International’s history is rooted in Southern California Edison, which traces its origins to the late 19th century.
Featured Articles
- Five stocks we like better than Edison International
- ASML Can’t Keep Up With AI Demand—Why That’s a Good Thing
- Enovix’s 100,000-Battery Drone Order Sets Up a Test of Its Production Plans
- AMD’s Support Could Help Fermi Stock Overcome Its Biggest Hurdle
- Beyond the GPU: Credo Paves the Next AI Data Superhighway
Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX – Free Report).
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.
