Geode Capital Management LLC Grows Stock Holdings in Edison International $EIX

Geode Capital Management LLC grew its position in shares of Edison International (NYSE:EIX) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,136,256 shares of the utilities provider’s stock after purchasing an additional 407,039 shares during the quarter. Geode Capital Management LLC’s holdings in Edison International were worth $638,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of EIX. Vanguard Group Inc. grew its stake in shares of Edison International by 1.0% during the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock valued at $2,892,003,000 after buying an additional 493,778 shares during the last quarter. Invesco Ltd. boosted its holdings in Edison International by 19.8% during the 1st quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider’s stock valued at $340,000,000 after acquiring an additional 953,897 shares during the period. JPMorgan Chase & Co. boosted its holdings in Edison International by 111.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock valued at $333,689,000 after acquiring an additional 2,987,318 shares during the period. AQR Capital Management LLC grew its position in Edison International by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock worth $319,169,000 after acquiring an additional 3,559,602 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Edison International by 38.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider’s stock worth $274,485,000 after purchasing an additional 1,289,062 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

EIX stock opened at $58.72 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.81. Edison International has a 1 year low of $47.73 and a 1 year high of $88.64. The firm has a 50-day moving average of $55.84 and a 200 day moving average of $54.46. The company has a market cap of $22.60 billion, a P/E ratio of 7.68, a PEG ratio of 0.83 and a beta of 0.85.

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

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th were issued a $0.8275 dividend. The ex-dividend date was Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.6%. Edison International’s dividend payout ratio is 43.27%.

Insider Buying and Selling

In other news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the sale, the director owned 35,212 shares in the company, valued at approximately $1,946,167.24. The trade was a 4.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EIX. JPMorgan Chase & Co. raised their target price on shares of Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Cowen started coverage on shares of Edison International in a research note on Wednesday, October 15th. They set a “buy” rating for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a research note on Tuesday. TD Cowen started coverage on Edison International in a research report on Thursday, October 16th. They set a “buy” rating and a $71.00 price target for the company. Finally, Morgan Stanley lifted their price objective on Edison International from $60.00 to $66.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. One investment 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.com, the company has a consensus rating of “Hold” and a consensus price target of $64.30.

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.