Texas Permanent School Fund Corp Sells 28,818 Shares of Edison International $EIX

Texas Permanent School Fund Corp lessened its holdings in shares of Edison International (NYSE:EIX) by 35.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,461 shares of the utilities provider’s stock after selling 28,818 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Edison International were worth $2,655,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Edison International by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock worth $2,655,858,000 after acquiring an additional 2,386,562 shares during the period. Geode Capital Management LLC lifted its holdings in Edison International by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock valued at $638,576,000 after purchasing an additional 407,039 shares during the last quarter. AQR Capital Management LLC boosted its position in Edison International by 83.5% during the second quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock worth $510,649,000 after purchasing an additional 4,534,864 shares during the period. Invesco Ltd. increased its holdings in shares of Edison International by 10.8% in the second quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider’s stock valued at $329,851,000 after purchasing an additional 621,924 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Edison International by 11.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,593,002 shares of the utilities provider’s stock valued at $288,599,000 after purchasing an additional 562,991 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EIX has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a report on Monday, December 15th. UBS Group raised their price objective on shares of Edison International from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. LADENBURG THALM/SH SH upped their target price on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Morgan Stanley set a $57.00 target price on Edison International in a research note on Wednesday. Finally, Cowen started coverage on Edison International in a research note on Wednesday, October 15th. They issued a “buy” rating for the company. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Edison International presently has a consensus rating of “Hold” and a consensus price target of $63.50.

Edison International Stock Performance

Shares of NYSE:EIX opened at $60.07 on Friday. Edison International has a 12-month low of $47.73 and a 12-month high of $81.02. The company’s 50 day moving average price is $57.56 and its two-hundred day moving average price is $54.80. The firm has a market cap of $23.11 billion, a PE ratio of 7.85, a PEG ratio of 0.90 and a beta of 0.83. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.18. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Equities research analysts predict that Edison International will post 4.95 earnings per share 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 given a $0.8775 dividend. The ex-dividend date is Wednesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.8%. Edison International’s dividend payout ratio (DPR) is 43.27%.

Insider Buying and Selling

In related news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the completion of the transaction, the director owned 35,212 shares of the company’s stock, valued at $1,946,167.24. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by company insiders.

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.