Pinebridge Investments LLC Invests $46.55 Million in Edison International $EIX

Key Points

• Pinebridge Investments LLC opened a new position in Edison International during the fourth quarter, buying 775,534 shares worth about $46.55 million. The stake represented 0.20% of the company.
• Institutional ownership remains very high, with 88.95% of Edison International shares held by institutions. Several other funds also increased their holdings in the utility stock.
• Analysts are mixed on EIX, with a current consensus rating of “Hold” and an average price target of $72.64. The stock recently traded around $73.46 after Edison reported quarterly EPS that beat estimates.

Pinebridge Investments LLC acquired a new position in Edison International (NYSE:EIX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 775,534 shares of the utilities provider's stock, valued at approximately $46,548,000. Pinebridge Investments LLC owned 0.20% of Edison International as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in EIX. Versor Investments LP increased its holdings in shares of Edison International by 55.0% in the 3rd quarter. Versor Investments LP now owns 51,830 shares of the utilities provider's stock valued at $2,865,000 after acquiring an additional 18,381 shares during the period. Gradient Investments LLC increased its holdings in shares of Edison International by 949.8% in the 4th quarter. Gradient Investments LLC now owns 263,056 shares of the utilities provider's stock valued at $15,789,000 after acquiring an additional 237,999 shares during the period. Krilogy Financial LLC increased its holdings in shares of Edison International by 141.8% in the 3rd quarter. Krilogy Financial LLC now owns 30,035 shares of the utilities provider's stock valued at $1,705,000 after acquiring an additional 17,616 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Edison International by 5.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,346,201 shares of the utilities provider's stock valued at $260,859,000 after acquiring an additional 220,785 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Edison International by 5.6% in the 4th quarter. Nordea Investment Management AB now owns 1,790,277 shares of the utilities provider's stock valued at $108,204,000 after acquiring an additional 94,727 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EIX has been the topic of several recent research reports. Wells Fargo & Company reissued an "underweight" rating and issued a $62.00 price objective on shares of Edison International in a research note on Tuesday, April 21st. UBS Group cut shares of Edison International from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $70.00 to $78.00 in a research note on Friday, February 13th. JPMorgan Chase & Co. boosted their price objective on shares of Edison International from $75.00 to $76.00 and gave the company a "neutral" rating in a research note on Friday, May 15th. Seaport Research Partners cut shares of Edison International from a "buy" rating to a "neutral" rating in a research note on Monday, April 20th. Finally, Weiss Ratings raised shares of Edison International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, April 15th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $72.64.

Insider Transactions at Edison International

In other news, Director Peter J. Taylor sold 500 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $75.30, for a total transaction of $37,650.00. Following the transaction, the director directly owned 34,212 shares in the company, valued at $2,576,163.60. This represents a 1.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company's stock.

Edison International Price Performance

Edison International stock opened at $73.46 on Friday. Edison International has a 52 week low of $47.73 and a 52 week high of $76.21. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98. The firm's 50-day simple moving average is $70.99 and its 200 day simple moving average is $66.49. The firm has a market capitalization of $28.27 billion, a PE ratio of 7.98, a P/E/G ratio of 1.24 and a beta of 0.67.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.10. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.37 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, equities research analysts predict that Edison International will post 6.12 EPS for the current fiscal year.

About Edison International

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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