Swedbank AB Increases Stock Holdings in Edison International $EIX

Key Points

• Swedbank AB sharply increased its Edison International stake by 207% in Q1, ending with 2.07 million shares worth about $151.7 million and representing roughly 0.54% of the company.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 88.95% of Edison International’s stock. Several large firms, including Vanguard, State Street, and AQR, also added to their positions.
• Edison International reported solid results and pays a sizable dividend: quarterly EPS of $1.42 beat estimates, revenue rose 7.7% year over year, and the company announced a $0.8775 quarterly dividend, implying a 4.6% annual yield.

Swedbank AB boosted its holdings in shares of Edison International (NYSE:EIX - Free Report) by 207.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,073,181 shares of the utilities provider's stock after acquiring an additional 1,397,858 shares during the period. Swedbank AB owned about 0.54% of Edison International worth $151,715,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EIX. Vanguard Group Inc. lifted its stake 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 valued at $3,134,268,000 after buying an additional 480,726 shares during the period. State Street Corp lifted its holdings in shares of Edison International by 3.0% during 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 acquiring an additional 953,800 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Edison International by 69.9% in the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider's stock worth $1,097,475,000 after buying an additional 7,521,168 shares during the period. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 386,905 shares during the period. Finally, Northern Trust Corp grew its holdings in Edison International by 12.3% during the 4th quarter. Northern Trust Corp now owns 6,070,324 shares of the utilities provider's stock valued at $364,341,000 after purchasing an additional 662,477 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Peter J. Taylor sold 500 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 34,212 shares of the company's stock, valued at approximately $2,576,163.60. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EIX. Barclays lowered their price objective 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. Seaport Research Partners downgraded shares of Edison International from a "buy" rating to a "neutral" rating in a research report on Monday, April 20th. Truist Financial dropped their target price on Edison International from $82.00 to $79.00 and set a "hold" rating on the stock in a research report on Monday, May 18th. JPMorgan Chase & Co. lifted their price target on Edison International from $75.00 to $76.00 and gave the company a "neutral" rating in a report on Friday, May 15th. Finally, Weiss Ratings upgraded 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, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $72.64.

Edison International Trading Up 1.1%

Shares of NYSE EIX traded up $0.79 during mid-day trading on Tuesday, hitting $75.63. 482,630 shares of the company traded hands, compared to its average volume of 3,009,679. Edison International has a 1 year low of $49.14 and a 1 year high of $76.39. The business has a 50 day moving average of $71.28 and a two-hundred day moving average of $68.66. The stock has a market capitalization of $29.10 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 1.31 and a beta of 0.66. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98.

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 for the quarter, topping the consensus estimate of $1.32 by $0.10. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the firm posted $1.37 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, sell-side analysts anticipate that Edison International will post 6.12 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.8775 per share. The ex-dividend date is Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a yield of 4.6%. Edison International's dividend payout ratio (DPR) is presently 38.11%.

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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