Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Edison International (NYSE:EIX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 257,051 shares of the utilities provider's stock, valued at approximately $19,137,000. Edison International comprises about 0.9% of Meiji Yasuda Asset Management Co Ltd.'s holdings, making the stock its 20th biggest holding. Meiji Yasuda Asset Management Co Ltd. owned approximately 0.07% of Edison International as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently modified their holdings of EIX. 10Elms LLP acquired a new position in shares of Edison International in the 4th quarter worth approximately $26,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Edison International during the 2nd quarter valued at $26,000. Transamerica Financial Advisors LLC increased its holdings in Edison International by 170.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 281 shares in the last quarter. Groupe la Francaise bought a new position in Edison International in the 1st quarter valued at $29,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in Edison International in the second quarter worth $30,000. Institutional investors and hedge funds own 88.95% of the company's stock.
Edison International Stock Performance
Edison International stock opened at $71.51 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.95. Edison International has a 1 year low of $52.00 and a 1 year high of $81.62. The company has a market cap of $27.52 billion, a PE ratio of 7.37, a PEG ratio of 5.56 and a beta of 0.66. The company's 50-day moving average is $74.13 and its two-hundred day moving average is $72.05.
Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.18 by $0.36. The company had revenue of $4.36 billion during the quarter, compared to analysts' expectations of $4.82 billion. Edison International had a net margin of 20.30% and a return on equity of 15.53%. Edison International's revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.97 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Equities analysts anticipate that Edison International will post 6.13 earnings per share for the current year.
Edison International Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were given a dividend of $0.8775 per share. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 annualized dividend and a dividend yield of 4.9%. Edison International's payout ratio is presently 36.19%.
Analyst Ratings Changes
Several analysts have recently commented on the company. Barclays restated an "equal weight" rating and set a $75.00 target price (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Truist Financial reduced their price target on shares of Edison International from $81.00 to $77.00 and set a "hold" rating on the stock in a research report on Tuesday, August 4th. JPMorgan Chase & Co. increased their price objective 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. Mizuho raised their price objective on shares of Edison International from $79.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Finally, Weiss Ratings downgraded shares of Edison International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $72.45.
Get Our Latest Analysis on Edison International
About Edison International
(
Free Report)
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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