Norges Bank Purchases Shares of 5,653,304 Edison International $EIX

Norges Bank purchased a new stake in Edison International (NYSE:EIX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,653,304 shares of the utilities provider’s stock, valued at approximately $339,311,000. Norges Bank owned 1.47% of Edison International at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of EIX. SG Americas Securities LLC increased its holdings in Edison International by 2,970.8% in the 4th quarter. SG Americas Securities LLC now owns 1,297,280 shares of the utilities provider’s stock valued at $77,863,000 after buying an additional 1,255,034 shares during the period. Man Group plc boosted its stake in shares of Edison International by 109.6% in the 2nd quarter. Man Group plc now owns 2,314,124 shares of the utilities provider’s stock valued at $119,409,000 after purchasing an additional 1,209,964 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Edison International by 71.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,425,926 shares of the utilities provider’s stock valued at $134,105,000 after purchasing an additional 1,009,508 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Edison International by 8.0% in the 3rd quarter. AQR Capital Management LLC now owns 10,763,984 shares of the utilities provider’s stock valued at $595,033,000 after purchasing an additional 801,082 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Edison International by 59.0% in the 3rd quarter. Victory Capital Management Inc. now owns 2,062,035 shares of the utilities provider’s stock valued at $113,989,000 after purchasing an additional 765,562 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 1.1%

Shares of NYSE EIX opened at $69.20 on Tuesday. The firm’s 50-day simple moving average is $70.90 and its 200 day simple moving average is $66.17. The company has a market cap of $26.63 billion, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 1.21 and a beta of 0.67. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98. Edison International has a 12-month low of $47.73 and a 12-month high of $76.21.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.10. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, research analysts expect that Edison International will post 6.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EIX. TD Cowen boosted their target price on shares of Edison International from $71.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Truist Financial reduced their target price on shares of Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Seaport Research Partners downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Bank of America reduced their target price on shares of Edison International from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $62.00 target price on shares of Edison International in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $72.64.

Insider Transactions at Edison International

In other Edison International news, Director Peter J. Taylor sold 500 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $75.30, for a total transaction of $37,650.00. Following the transaction, the director directly owned 34,212 shares in the company, valued at approximately $2,576,163.60. This represents a 1.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company’s stock.

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.