Ninety One UK Ltd Acquires 11,741 Shares of Edison International $EIX

Ninety One UK Ltd lifted its holdings in Edison International (NYSE:EIX) by 165.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 18,822 shares of the utilities provider’s stock after purchasing an additional 11,741 shares during the quarter. Ninety One UK Ltd’s holdings in Edison International were worth $1,011,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of EIX. BlackRock Inc. acquired a new position in shares of Edison International during the second quarter valued at $3,340,412,000. Legal & General Group Plc bought a new stake in shares of Edison International during the second quarter valued at about $329,766,000. Bank of New York Mellon Corp acquired a new stake in Edison International in the second quarter worth about $309,361,000. Hsbc Holdings PLC acquired a new stake in Edison International in the second quarter worth about $261,275,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Edison International in the second quarter worth about $212,053,000. Institutional investors own 88.95% of the company’s stock.

Insiders Place Their Bets

In other Edison International news, Director Peter Taylor sold 500 shares of Edison International stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $55.56, for a total value of $27,780.00. Following the transaction, the director owned 33,212 shares in the company, valued at approximately $1,845,258.72. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EIX shares. Barclays decreased their target price on shares of Edison International from $75.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, October 9th. Argus reissued a “hold” rating on shares of Edison International in a research note on Wednesday, August 26th. Morgan Stanley dropped their price target on shares of Edison International from $65.00 to $60.00 and set an “underweight” rating on the stock in a research report on Friday, September 18th. Truist Financial reduced their price target on shares of Edison International from $63.00 to $62.00 and set a “hold” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Edison International from $61.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Edison International currently has an average rating of “Reduce” and an average price target of $60.75.

Edison International Stock Performance

NYSE:EIX opened at $55.57 on Friday. The company has a 50-day moving average of $60.44 and a 200-day moving average of $68.41. The firm has a market cap of $21.38 billion, a price-to-earnings ratio of 5.73, a price-to-earnings-growth ratio of 2.23 and a beta of 0.62. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.95. Edison International has a twelve month low of $51.10 and a twelve month high of $81.62.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 30th. The utilities provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.36. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The business had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the firm earned $0.97 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Analysts forecast that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Wednesday, October 7th will be issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Wednesday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 36.19%.

Edison International Company Profile

Edison International is a publicly owned holding company based in Rosemead, California. Its principal subsidiary, Southern California Edison (SCE), is an electric utility that generates, transmits, and distributes electricity across central, coastal, and Southern California.

SCE provides electric service to residential, commercial, industrial, and public-sector customers and manages a large transmission and distribution network. The utility is also involved in grid modernization, wildfire mitigation, renewable energy integration, energy efficiency, and the development of electric transportation infrastructure.

Edison International’s history is rooted in Southern California Edison, which traces its origins to the late 19th century.