Edison International $EIX Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC grew its stake in Edison International (NYSE:EIX) by 125.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,929 shares of the utilities provider’s stock after acquiring an additional 10,540 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Edison International were worth $1,016,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kentucky Trust Co increased its position in Edison International by 66.7% during the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. American National Bank & Trust acquired a new stake in shares of Edison International during the 2nd quarter worth approximately $32,000. Laurel Wealth Advisors LLC raised its position in shares of Edison International by 5,064.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after buying an additional 709 shares during the period. Quent Capital LLC acquired a new position in Edison International in the third quarter valued at approximately $40,000. Finally, CoreFirst Bank & Trust purchased a new position in Edison International in the second quarter worth approximately $38,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In other news, Director Peter J. Taylor sold 1,800 shares of Edison International 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 completion of the sale, the director directly owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. The trade was a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH increased their price target on Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. decreased their target price on shares of Edison International from $67.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, December 12th. Jefferies Financial Group lifted their price target on shares of Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Morgan Stanley set a $57.00 price objective on shares of Edison International in a report on Wednesday, December 17th. Finally, Cowen started coverage on shares of Edison International in a research report on Wednesday, October 15th. They set a “buy” rating for the company. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.80.

Edison International Stock Down 4.0%

Edison International stock opened at $59.87 on Wednesday. The firm has a market capitalization of $23.04 billion, a P/E ratio of 7.83, a P/E/G ratio of 0.91 and a beta of 0.83. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. Edison International has a twelve month low of $47.73 and a twelve month high of $62.81. The stock’s fifty day simple moving average is $59.29 and its 200-day simple moving average is $56.29.

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

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Wednesday, January 7th will be issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.9%. This is a positive change from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, January 7th. Edison International’s dividend payout ratio is 45.88%.

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.