VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Edison International $EIX

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Edison International (NYSE:EIX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 447,650 shares of the utilities provider’s stock, valued at approximately $33,328,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. 10Elms LLP acquired a new position in shares of Edison International in the 4th quarter valued at $26,000. Edmond DE Rothschild Holding S.A. purchased a new position in Edison International in the 2nd quarter worth $26,000. Transamerica Financial Advisors LLC raised its stake in Edison International by 170.3% in the 4th quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 281 shares during the last quarter. Groupe la Francaise acquired a new stake in Edison International during the 1st quarter worth about $29,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Edison International during the 2nd quarter worth about $30,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Trading Down 0.2%

NYSE EIX opened at $56.64 on Tuesday. Edison International has a 1 year low of $52.00 and a 1 year high of $81.62. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. The company has a market capitalization of $21.80 billion, a PE ratio of 5.84, a P/E/G ratio of 2.29 and a beta of 0.62. The company has a fifty day moving average of $72.16 and a 200 day moving average of $71.86.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Research analysts forecast that Edison International will post 6.13 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were paid a $0.8775 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 6.2%. Edison International’s dividend payout ratio is presently 36.19%.

Analysts Set New Price Targets

EIX has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on Edison International from $82.00 to $61.00 and set a “neutral” rating on the stock in a report on Wednesday, September 2nd. Truist Financial reduced their price objective on Edison International from $77.00 to $63.00 and set a “hold” rating for the company in a research note on Thursday. Morgan Stanley decreased their target price on Edison International from $69.00 to $65.00 and set an “underweight” rating for the company in a report on Friday, August 21st. UBS Group dropped their target price on Edison International from $75.00 to $63.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 1st. Finally, Barclays reiterated an “equal weight” rating and issued a $75.00 price target (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $64.55.

Edison International Company Profile

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.