Edison International $EIX Stock: Howard Capital Management LLC Increases Position

Key Points

• Howard Capital Management increased its Edison International stake by 246.6% in the third quarter, acquiring 63,069 additional shares for a total holding of 88,644 shares worth approximately $4.8 million. Institutional investors collectively own 88.95% of EIX.
• Edison International shares rose 0.7% to $56.05, near the lower end of their 52-week range. The company exceeded quarterly EPS expectations, reporting $1.54 versus the $1.18 consensus, but revenue declined 4.1% year over year.
• The utility announced a quarterly dividend of $0.8775 per share, equal to an annualized $3.51 payout and a 6.3% yield. Analyst sentiment remains cautious, with an average “Reduce” rating and a $60.75 price target.

Howard Capital Management LLC boosted its stake in shares of Edison International (NYSE:EIX - Free Report) by 246.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,644 shares of the utilities provider's stock after buying an additional 63,069 shares during the period. Howard Capital Management LLC's holdings in Edison International were worth $4,763,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Edison International in the 2nd quarter worth $3,340,412,000. Legal & General Group Plc acquired a new position in shares of Edison International during the 2nd quarter valued at about $329,766,000. Bank of New York Mellon Corp acquired a new position in shares of Edison International during the 2nd quarter valued at about $309,361,000. Amundi grew its holdings in shares of Edison International by 27.0% in the second quarter. Amundi now owns 3,570,726 shares of the utilities provider's stock valued at $265,843,000 after purchasing an additional 759,236 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in shares of Edison International in the second quarter valued at about $261,275,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Trading Up 0.7%

Shares of EIX traded up $0.40 during trading on Friday, reaching $56.05. 4,935,159 shares of the company traded hands, compared to its average volume of 5,671,060. Edison International has a twelve month low of $51.10 and a twelve month high of $81.62. The stock has a market cap of $21.57 billion, a PE ratio of 5.78, a price-to-earnings-growth ratio of 2.35 and a beta of 0.62. The stock has a 50-day simple moving average of $60.19 and a 200-day simple moving average of $68.32. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, beating 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 was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, analysts anticipate that Edison International will post 6.13 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Wednesday, October 7th will be given a $0.8775 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $3.51 dividend on an annualized basis and a yield of 6.3%. Edison International's payout ratio is presently 36.19%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EIX. Mizuho restated a "neutral" rating and set a $70.00 price objective (down from $86.00) on shares of Edison International in a research report on Monday, August 31st. JPMorgan Chase & Co. decreased their target price on shares of Edison International from $61.00 to $59.00 and set a "neutral" rating on the stock in a report on Monday, October 12th. Truist Financial dropped 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. UBS Group restated a "neutral" rating and set a $57.00 price target on shares of Edison International in a report on Thursday, September 24th. Finally, Jefferies Financial Group reaffirmed an "underperform" rating and set a $42.00 price target (down from $53.00) on shares of Edison International in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $60.75.

Insider Transactions at Edison International

In other Edison International news, Director Peter Taylor sold 500 shares of the company's stock in a transaction on Monday, October 12th. The stock was sold at an average price of $55.56, for a total transaction of $27,780.00. Following the transaction, the director directly owned 33,212 shares in the company, valued at $1,845,258.72. This represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by insiders.

Edison International 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.

Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX - Free Report).

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.