HB Wealth Management LLC Buys Shares of 10,916 Edison International $EIX

HB Wealth Management LLC purchased a new position in Edison International (NYSE:EIX) in the third quarter, HoldingsChannel reports. The firm purchased 10,916 shares of the utilities provider’s stock, valued at approximately $603,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CX Institutional raised its holdings in Edison International by 79.5% during the third quarter. CX Institutional now owns 3,323 shares of the utilities provider’s stock worth $184,000 after purchasing an additional 1,472 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Edison International by 201.7% during the 3rd quarter. Park Avenue Securities LLC now owns 13,243 shares of the utilities provider’s stock valued at $732,000 after purchasing an additional 8,854 shares during the period. Cerity Partners LLC increased its position in shares of Edison International by 10.9% during the 3rd quarter. Cerity Partners LLC now owns 475,966 shares of the utilities provider’s stock valued at $26,311,000 after purchasing an additional 46,599 shares during the period. Greenleaf Trust bought a new stake in shares of Edison International in the 3rd quarter worth $233,000. Finally, Cigna Investments Inc. New acquired a new stake in shares of Edison International in the third quarter valued at $210,000. 88.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the sale, the director directly owned 35,212 shares of the company’s stock, valued at $1,946,167.24. The trade was a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Edison International Trading Up 1.2%

Shares of EIX opened at $60.73 on Wednesday. The business’s 50-day moving average price is $58.84 and its 200 day moving average price is $55.97. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $23.37 billion, a P/E ratio of 7.94, a P/E/G ratio of 0.88 and a beta of 0.83. Edison International has a 1-year low of $47.73 and a 1-year high of $63.97.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.18. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.31 billion. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Wednesday, January 7th will be paid a $0.8775 dividend. The ex-dividend date of this dividend is Wednesday, January 7th. This represents a $3.51 dividend on an annualized basis and a yield of 5.8%. This is a positive change from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio (DPR) is 45.88%.

Analysts Set New Price Targets

A number of research firms recently issued reports on EIX. Zacks Research lowered Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. UBS Group raised their price objective on shares of Edison International from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Morgan Stanley set a $57.00 price objective on shares of Edison International in a research note on Wednesday, December 17th. Wells Fargo & Company upgraded shares of Edison International to a “hold” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.50.

Edison International 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.