QRG Capital Management Inc. Has $715,000 Position in Edison International $EIX

QRG Capital Management Inc. lessened its holdings in shares of Edison International (NYSE:EIX) by 44.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 12,927 shares of the utilities provider’s stock after selling 10,238 shares during the period. QRG Capital Management Inc.’s holdings in Edison International were worth $715,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB lifted its position in Edison International by 1.7% in the 3rd quarter. Nordea Investment Management AB now owns 1,695,550 shares of the utilities provider’s stock valued at $92,984,000 after acquiring an additional 28,586 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Edison International by 5.3% in the 2nd quarter. Maryland State Retirement & Pension System now owns 364,525 shares of the utilities provider’s stock valued at $18,809,000 after purchasing an additional 18,412 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Edison International by 7.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 132,866 shares of the utilities provider’s stock valued at $6,982,000 after purchasing an additional 9,015 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Edison International during the second quarter worth about $456,000. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Edison International by 237.2% during the second quarter. Los Angeles Capital Management LLC now owns 1,904,568 shares of the utilities provider’s stock worth $98,276,000 after buying an additional 1,339,806 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on EIX shares. Jefferies Financial Group boosted their target price on Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. TD Cowen started coverage on shares of Edison International in a research report on Thursday, October 16th. They issued a “buy” rating and a $71.00 price objective on the stock. Wells Fargo & Company cut shares of Edison International from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $56.00 to $59.00 in a report on Tuesday. Zacks Research lowered shares of Edison International from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Finally, LADENBURG THALM/SH SH boosted their price target on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Edison International presently has an average rating of “Hold” and an average price target of $63.80.

Edison International Stock Up 0.8%

EIX stock opened at $60.40 on Thursday. Edison International has a 1-year low of $47.73 and a 1-year high of $62.62. The business’s 50 day simple moving average is $59.32 and its 200 day simple moving average is $56.32. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $23.24 billion, a PE ratio of 7.90, a PEG ratio of 0.87 and a beta of 0.83.

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

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Wednesday, January 7th will be paid a $0.8775 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, January 7th. This represents a $3.51 dividend on an annualized basis and a yield of 5.8%. Edison International’s dividend payout ratio (DPR) is currently 45.88%.

Insiders Place Their Bets

In other Edison International 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 value of $99,486.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Edison International 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.