Edison International $EIX Shares Acquired by Assetmark Inc.

Assetmark Inc. grew its holdings in Edison International (NYSE:EIX) by 113.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 83,887 shares of the utilities provider’s stock after buying an additional 44,571 shares during the quarter. Assetmark Inc.’s holdings in Edison International were worth $4,329,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Flagship Harbor Advisors LLC raised its stake in Edison International by 8.0% in the second quarter. Flagship Harbor Advisors LLC now owns 4,733 shares of the utilities provider’s stock valued at $244,000 after buying an additional 351 shares in the last quarter. New York Life Investment Management LLC lifted its position in Edison International by 1.1% in the second quarter. New York Life Investment Management LLC now owns 52,234 shares of the utilities provider’s stock valued at $2,695,000 after acquiring an additional 557 shares during the last quarter. Howard Capital Management Inc. lifted its position in Edison International by 24.0% in the second quarter. Howard Capital Management Inc. now owns 8,385 shares of the utilities provider’s stock valued at $433,000 after acquiring an additional 1,624 shares during the last quarter. Advisory Alpha LLC lifted its position in Edison International by 26.0% in the second quarter. Advisory Alpha LLC now owns 5,192 shares of the utilities provider’s stock valued at $268,000 after acquiring an additional 1,072 shares during the last quarter. Finally, SYM FINANCIAL Corp lifted its position in Edison International by 49.4% in the second quarter. SYM FINANCIAL Corp now owns 8,895 shares of the utilities provider’s stock valued at $459,000 after acquiring an additional 2,943 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EIX. UBS Group reduced their price target on shares of Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a report on Wednesday, October 8th. TD Cowen started coverage on Edison International in a research report on Thursday, October 16th. They issued a “buy” rating and a $71.00 price target on the stock. Zacks Research raised Edison International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Cowen began coverage on Edison International in a research note on Wednesday, October 15th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Edison International presently has an average rating of “Hold” and a consensus price target of $64.30.

Insider Transactions at Edison International

In related news, Director Peter J. Taylor sold 1,800 shares of the 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 completion of the transaction, the director directly owned 35,212 shares of the company’s stock, valued at $1,946,167.24. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Edison International Trading Down 1.8%

Shares of Edison International stock opened at $54.41 on Tuesday. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of 0.83 and a beta of 0.80. Edison International has a 52-week low of $47.73 and a 52-week high of $88.64. The company’s 50-day simple moving average is $55.44 and its 200-day simple moving average is $54.42. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.18. The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. As a group, equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently declared 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. This represents a $3.31 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend was Tuesday, October 7th. Edison International’s dividend payout ratio is currently 43.27%.

Edison International Profile

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.