Edison International $EIX Shares Acquired by Versor Investments LP

Key Points

• Versor Investments LP increased its stake in Edison International by 64.4% during the first quarter, making it the fund's 12th largest position with holdings valued at approximately $3.87 million.
• Edison International reported $0.97 EPS for the last quarter, beating analysts' estimates and showing a 4.8% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.8275, equating to a 6.0% dividend yield, with a payout ratio of 48.60%.

Versor Investments LP grew its position in Edison International (NYSE:EIX - Free Report) by 64.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,685 shares of the utilities provider's stock after buying an additional 25,720 shares during the quarter. Edison International accounts for 0.6% of Versor Investments LP's holdings, making the stock its 12th largest holding. Versor Investments LP's holdings in Edison International were worth $3,870,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock worth $333,689,000 after acquiring an additional 2,987,318 shares in the last quarter. Northern Trust Corp raised its stake in shares of Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after acquiring an additional 2,016,017 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Edison International by 149.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock valued at $223,057,000 after purchasing an additional 1,673,204 shares during the period. Allianz Asset Management GmbH grew its stake in Edison International by 1,946.0% during the 1st quarter. Allianz Asset Management GmbH now owns 1,255,449 shares of the utilities provider's stock worth $73,971,000 after purchasing an additional 1,194,088 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Edison International during the 1st quarter worth $61,916,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Price Performance

Shares of Edison International stock traded up $1.4920 during trading on Friday, reaching $55.3020. The company's stock had a trading volume of 1,167,178 shares, compared to its average volume of 4,384,987. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77. The company has a market capitalization of $21.28 billion, a P/E ratio of 8.12, a price-to-earnings-growth ratio of 1.32 and a beta of 0.75. The business has a 50 day moving average price of $52.35 and a 200-day moving average price of $54.26.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The business had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The company's revenue was up 4.8% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. As a group, sell-side analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's payout ratio is presently 48.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EIX. Morgan Stanley decreased their price objective on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Barclays increased their price objective on shares of Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. dropped their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $75.21.

Edison International 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.