Korea Investment CORP Purchases Shares of 274,111 Edison International $EIX

Korea Investment CORP acquired a new stake in shares of Edison International (NYSE:EIX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 274,111 shares of the utilities provider's stock, valued at approximately $20,408,000. Korea Investment CORP owned about 0.07% of Edison International as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Edison International by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider's stock worth $3,134,268,000 after purchasing an additional 480,726 shares during the period. BlackRock Inc. purchased a new stake in shares of Edison International during the second quarter valued at $3,340,412,000. State Street Corp boosted its position in shares of Edison International by 3.0% in the 4th quarter. State Street Corp now owns 33,141,204 shares of the utilities provider's stock valued at $1,989,135,000 after purchasing an additional 953,800 shares during the period. AQR Capital Management LLC boosted its position in shares of Edison International by 69.9% in the 4th quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider's stock valued at $1,097,475,000 after purchasing an additional 7,521,168 shares during the period. Finally, Geode Capital Management LLC increased its stake in Edison International by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider's stock worth $803,407,000 after purchasing an additional 386,905 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Stock Performance

Shares of EIX stock opened at $71.51 on Monday. The company has a market capitalization of $27.52 billion, a price-to-earnings ratio of 7.37, a P/E/G ratio of 5.56 and a beta of 0.66. Edison International has a 1-year low of $52.00 and a 1-year 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's fifty day simple moving average is $74.13 and its 200-day simple moving average is $72.05.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.36. Edison International had a return on equity of 15.53% and a net margin of 20.30%.The firm had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the business 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. On average, sell-side analysts predict that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EIX. Barclays restated an "equal weight" rating and set a $75.00 price objective (down from $78.00) on shares of Edison International in a report on Friday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Edison International from $75.00 to $76.00 and gave the stock a "neutral" rating in a report on Friday, May 15th. Morgan Stanley dropped their target price on shares of Edison International from $69.00 to $65.00 and set an "underweight" rating on the stock in a research report on Friday. Mizuho boosted their price target on shares of Edison International from $79.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Finally, Truist Financial reduced their price target on shares of Edison International from $81.00 to $77.00 and set a "hold" rating for the company in a research report on Tuesday, August 4th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $72.45.

Edison International Company 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.

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