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

Los Angeles Capital Management LLC increased its holdings in Edison International (NYSE:EIX) by 237.2% during the 2nd quarter, Holdings Channel reports. The firm owned 1,904,568 shares of the utilities provider’s stock after buying an additional 1,339,806 shares during the period. Los Angeles Capital Management LLC’s holdings in Edison International were worth $98,276,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of EIX. Investment Management Corp VA ADV grew its holdings in shares of Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 265 shares during the period. Kentucky Trust Co grew its position in Edison International by 66.7% during the 2nd 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 purchased a new position in Edison International in the second quarter worth about $32,000. Zions Bancorporation National Association UT bought a new position in shares of Edison International in the first quarter worth approximately $35,000. Finally, Hilltop National Bank bought a new stake in shares of Edison International during the second quarter valued at approximately $44,000. Institutional investors own 88.95% of the company’s stock.

Insiders Place Their Bets

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the transaction, the director owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EIX has been the subject of a number of research analyst reports. Wells Fargo & Company raised Edison International to a “hold” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. boosted their price objective on shares of Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Morgan Stanley lifted their target price on shares of Edison International from $60.00 to $66.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. Barclays lowered their price target on Edison International from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, TD Cowen started coverage on Edison International in a report on Thursday, October 16th. They issued a “buy” rating and a $71.00 price objective for the company. One research 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $64.30.

Edison International Trading Up 0.8%

Shares of Edison International stock opened at $57.00 on Friday. 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 $21.93 billion, a P/E ratio of 7.45, a P/E/G 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.18. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.31 billion. Edison International had a net margin of 17.24% and a return on equity of 13.62%. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. On average, sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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

About Edison International

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.