Sterling Capital Management LLC Purchases 18,913 Shares of Edison International $EIX

Key Points

• Sterling Capital Management increased its Edison International stake by 66.1% in the first quarter, buying 18,913 additional shares and bringing its total holding to 47,547 shares worth about $3.48 million.
• Wall Street sentiment remains mixed: Edison International has a consensus Hold rating with an average price target of $72.64, though some analysts have recently lowered ratings or trimmed targets.
• The company beat quarterly EPS estimates with $1.42 per share, raised revenue 7.7% year over year, and announced a quarterly dividend of $0.8775 per share, implying a 4.6% annual yield.

Sterling Capital Management LLC raised its holdings in shares of Edison International (NYSE:EIX - Free Report) by 66.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,547 shares of the utilities provider's stock after purchasing an additional 18,913 shares during the quarter. Sterling Capital Management LLC's holdings in Edison International were worth $3,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 10Elms LLP bought a new stake in shares of Edison International in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC boosted its holdings in Edison International by 170.3% in the 4th quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider's stock worth $27,000 after buying an additional 281 shares during the period. Ransom Advisory Ltd boosted its holdings in Edison International by 74.9% in the 4th quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider's stock worth $36,000 after buying an additional 259 shares during the period. Ameriflex Group Inc. grew its stake in Edison International by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 742 shares of the utilities provider's stock valued at $41,000 after buying an additional 371 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its stake in Edison International by 866.7% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider's stock valued at $47,000 after buying an additional 702 shares in the last quarter. Institutional investors own 88.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Seaport Research Partners cut shares of Edison International from a "buy" rating to a "neutral" rating in a report on Monday, April 20th. Truist Financial reduced their price target on Edison International from $82.00 to $79.00 and set a "hold" rating for the company in a research report on Monday, May 18th. LADENBURG THALM/SH SH reiterated a "sell" rating and set a $63.00 price objective on shares of Edison International in a research note on Thursday, March 5th. Morgan Stanley reissued an "underweight" rating on shares of Edison International in a report on Wednesday. Finally, Barclays cut their target price on Edison International from $78.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $72.64.

Edison International Stock Performance

NYSE:EIX opened at $75.58 on Friday. The stock has a market cap of $29.08 billion, a P/E ratio of 8.21, a PEG ratio of 1.31 and a beta of 0.67. 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 business's 50-day moving average price is $70.83 and its two-hundred day moving average price is $67.98. Edison International has a twelve month low of $49.14 and a twelve month high of $76.21.

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

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be issued a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.6%. Edison International's dividend payout ratio is presently 38.11%.

Insider Activity at Edison International

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

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.

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.