Bellars Harris Wealth Management LLC Makes New $4.15 Million Investment in Edison International $EIX

Bellars Harris Wealth Management LLC acquired a new stake in Edison International (NYSE:EIX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 55,700 shares of the utilities provider's stock, valued at approximately $4,147,000.

A number of other institutional investors have also recently made changes to their positions in EIX. Vanguard Group Inc. grew its holdings in Edison International by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider's stock worth $3,134,268,000 after acquiring an additional 480,726 shares during the last quarter. State Street Corp raised its stake in shares of Edison International by 3.0% during the fourth quarter. State Street Corp now owns 33,141,204 shares of the utilities provider's stock valued at $1,989,135,000 after acquiring an additional 953,800 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Edison International by 69.9% during the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider's stock valued at $1,097,475,000 after acquiring an additional 7,521,168 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Edison International by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider's stock valued at $803,407,000 after acquiring an additional 386,905 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Edison International by 12.3% during the fourth quarter. Northern Trust Corp now owns 6,070,324 shares of the utilities provider's stock worth $364,341,000 after purchasing an additional 662,477 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EIX. Morgan Stanley reissued an "underweight" rating and issued a $69.00 target price on shares of Edison International in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price target on Edison International from $75.00 to $76.00 and gave the company a "neutral" rating in a research report on Friday, May 15th. Seaport Research Partners cut Edison International from a "buy" rating to a "neutral" rating in a report on Monday, April 20th. Barclays reiterated an "equal weight" rating and issued a $75.00 price objective (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Finally, Weiss Ratings lowered Edison International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $72.82.

Edison International Trading Up 0.9%

NYSE:EIX opened at $71.35 on Friday. The company has a 50-day moving average price of $74.02 and a 200-day moving average price of $71.60. Edison International has a 12 month low of $52.00 and a 12 month high of $81.62. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.95. The stock has a market cap of $27.46 billion, a price-to-earnings ratio of 7.36, a P/E/G ratio of 5.54 and a beta of 0.66.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.36. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The company had revenue of $4.36 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. Edison International's quarterly revenue was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Equities analysts predict that Edison International will post 6.13 EPS for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were issued a dividend of $0.8775 per share. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.9%. Edison International's dividend payout ratio is 36.19%.

Edison International Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source