VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Stake in Edison International $EIX

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Edison International (NYSE:EIX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 408,400 shares of the utilities provider’s stock, valued at approximately $21,073,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Edison International by 1.0% in the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock valued at $2,892,003,000 after acquiring an additional 493,778 shares during the period. Invesco Ltd. increased its stake in Edison International by 19.8% in the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider’s stock valued at $340,000,000 after acquiring an additional 953,897 shares during the period. JPMorgan Chase & Co. increased its stake in Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock valued at $333,689,000 after acquiring an additional 2,987,318 shares during the period. AQR Capital Management LLC increased its stake in Edison International by 190.5% in the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock valued at $319,169,000 after acquiring an additional 3,559,602 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Edison International by 38.3% in the first quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider’s stock valued at $274,485,000 after acquiring an additional 1,289,062 shares during the period. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on EIX. Jefferies Financial Group lowered shares of Edison International from a “buy” rating to a “hold” rating and reduced their price target for the company from $70.00 to $57.00 in a research report on Thursday, October 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Morgan Stanley reduced their price target on shares of Edison International from $61.00 to $60.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. Finally, TD Cowen began coverage on shares of Edison International in a research report on Thursday. They issued a “buy” rating and a $71.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Edison International currently has an average rating of “Hold” and a consensus target price of $65.25.

Edison International Price Performance

Shares of EIX stock opened at $56.75 on Monday. Edison International has a 1 year low of $47.73 and a 1 year high of $88.64. The firm’s 50 day moving average is $55.20 and its 200-day moving average is $54.33. The firm has a market capitalization of $21.84 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.97 and a beta of 0.80. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period in the prior year, the business earned $1.23 earnings per share. Edison International’s quarterly revenue was up 4.8% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Sell-side analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Tuesday, October 7th. Edison International’s dividend payout ratio is presently 48.60%.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.