11,270 Shares in Edison International $EIX Acquired by Rakuten Investment Management Inc.
by Jessica Moore · The Cerbat GemRakuten Investment Management Inc. bought a new position in shares of Edison International (NYSE:EIX – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,270 shares of the utilities provider’s stock, valued at approximately $623,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EIX. American National Bank & Trust acquired a new position in shares of Edison International during the second quarter worth $32,000. Laurel Wealth Advisors LLC raised its position in Edison International by 5,064.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 709 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in Edison International during the 2nd quarter worth about $38,000. Quent Capital LLC bought a new stake in shares of Edison International in the 3rd quarter valued at about $40,000. Finally, Hilltop National Bank bought a new stake in shares of Edison International in the 2nd quarter valued at about $44,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.
Edison International Price Performance
Edison International stock opened at $60.68 on Friday. The stock has a market capitalization of $23.35 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 0.89 and a beta of 0.83. Edison International has a 52-week low of $47.73 and a 52-week high of $62.62. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. The stock’s 50 day moving average price is $59.39 and its two-hundred day moving average price is $56.46.
Edison International (NYSE:EIX – Get Free Report) last released its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.18. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. Edison International had a net margin of 17.24% and a return on equity of 13.62%. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.51 EPS. 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 earnings per share for the current year.
Edison International Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th will be given a dividend of $0.8775 per share. This is a boost from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, January 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.8%. Edison International’s payout ratio is currently 45.88%.
Insider Activity
In other news, Director Peter J. Taylor sold 1,800 shares of the firm’s 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 completion of the sale, the director directly owned 35,212 shares in the company, valued at $1,946,167.24. This trade represents a 4.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on EIX shares. LADENBURG THALM/SH SH raised their price objective on Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Jefferies Financial Group raised their price target on shares of Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Zacks Research downgraded shares of Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. UBS Group reiterated a “buy” rating on shares of Edison International in a research report on Friday, January 16th. Finally, TD Cowen began coverage on shares of Edison International in a research note on Thursday, October 16th. They set a “buy” rating and a $71.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Edison International currently has an average rating of “Hold” and an average target price of $63.70.
Check Out Our Latest Report on EIX
About Edison International
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.
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