Profund Advisors LLC Boosts Stock Position in Edison International $EIX

Profund Advisors LLC grew its holdings in shares of Edison International (NYSE:EIX) by 26.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,344 shares of the utilities provider’s stock after buying an additional 4,097 shares during the period. Profund Advisors LLC’s holdings in Edison International were worth $998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in shares of Edison International by 2.7% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider’s stock worth $383,000 after acquiring an additional 196 shares in the last quarter. Kentucky Trust Co raised its holdings in Edison International by 66.7% during the second 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. Empowered Funds LLC raised its holdings in Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after purchasing an additional 211 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Edison International by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock worth $3,818,000 after buying an additional 213 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in shares of Edison International by 21.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 1,217 shares of the utilities provider’s stock worth $63,000 after buying an additional 217 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Price Performance

Shares of EIX opened at $57.89 on Wednesday. The stock’s 50 day moving average is $55.60 and its two-hundred day moving average is $54.39. Edison International has a twelve month low of $47.73 and a twelve month high of $88.64. The firm has a market capitalization of $22.28 billion, a PE ratio of 7.57, a P/E/G ratio of 0.83 and a beta of 0.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.18. The firm 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%.Edison International’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

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

Insider Activity

In related news, Director Peter J. Taylor sold 1,800 shares of the business’s 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 sale, the director directly owned 35,212 shares in the company, valued at $1,946,167.24. The trade was a 4.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on EIX shares. Morgan Stanley increased their target price on shares of Edison International from $60.00 to $66.00 and gave the company an “underweight” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company raised Edison International to a “hold” rating in a report on Tuesday, October 28th. UBS Group cut their target price on Edison International from $68.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Jefferies Financial Group upped their target price on Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Finally, TD Cowen assumed coverage on Edison International in a research note on Thursday, October 16th. They set a “buy” rating and a $71.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.30.

About Edison International

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.