Handelsbanken Fonder AB Purchases 116,191 Shares of Edison International $EIX

Handelsbanken Fonder AB raised its holdings in Edison International (NYSE:EIX) by 62.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 302,106 shares of the utilities provider’s stock after acquiring an additional 116,191 shares during the period. Handelsbanken Fonder AB owned about 0.08% of Edison International worth $15,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Investment Management Corp VA ADV lifted its holdings in shares of Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 265 shares in the last quarter. Kentucky Trust Co increased its stake in Edison International by 66.7% during the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in Edison International during the 1st quarter worth approximately $35,000. American National Bank & Trust acquired a new stake in Edison International during the 2nd quarter worth approximately $32,000. Finally, Hilltop National Bank bought a new position in Edison International in the second quarter valued at approximately $44,000. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. LADENBURG THALM/SH SH increased their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. Zacks Research upgraded Edison International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Cowen started coverage on Edison International in a report on Wednesday, October 15th. They issued a “buy” rating on the stock. Finally, Wall Street Zen cut Edison International from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. One research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $64.10.

Insider Activity

In other news, Director Peter J. Taylor sold 1,800 shares of the stock in a transaction that occurred on 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 sale, the director owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This represents a 4.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Edison International Trading Up 0.8%

Shares of NYSE:EIX opened at $58.55 on Friday. The company’s 50-day moving average price is $56.12 and its two-hundred day moving average price is $54.55. Edison International has a one year low of $47.73 and a one year high of $88.64. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a market capitalization of $22.53 billion, a PE ratio of 7.65, a price-to-earnings-growth ratio of 0.83 and a beta of 0.85.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.31 billion. During the same quarter in the previous year, the business earned $1.51 earnings per share. Edison International’s quarterly 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, equities analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th were paid a dividend of $0.8275 per share. The ex-dividend date was Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.7%. Edison International’s dividend payout ratio is currently 43.27%.

Edison International Company 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.