Westpac Banking Corp Buys 23,751 Shares of Edison International $EIX

Westpac Banking Corp grew its holdings in Edison International (NYSE:EIX) by 118.7% in the fourth quarter, HoldingsChannel reports. The fund owned 43,754 shares of the utilities provider’s stock after buying an additional 23,751 shares during the period. Westpac Banking Corp’s holdings in Edison International were worth $2,626,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of EIX. Norges Bank bought a new stake in Edison International during the fourth quarter worth about $339,311,000. SG Americas Securities LLC lifted its position in Edison International by 2,970.8% during the fourth quarter. SG Americas Securities LLC now owns 1,297,280 shares of the utilities provider’s stock worth $77,863,000 after purchasing an additional 1,255,034 shares during the period. Man Group plc lifted its position in Edison International by 109.6% during the second quarter. Man Group plc now owns 2,314,124 shares of the utilities provider’s stock worth $119,409,000 after purchasing an additional 1,209,964 shares during the period. Allianz Asset Management GmbH lifted its position in Edison International by 71.3% during the third quarter. Allianz Asset Management GmbH now owns 2,425,926 shares of the utilities provider’s stock worth $134,105,000 after purchasing an additional 1,009,508 shares during the period. Finally, AQR Capital Management LLC lifted its position in Edison International by 8.0% during the third quarter. AQR Capital Management LLC now owns 10,763,984 shares of the utilities provider’s stock worth $595,033,000 after purchasing an additional 801,082 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Edison International from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Morgan Stanley cut their price objective on shares of Edison International from $71.00 to $70.00 and set an “underweight” rating for the company in a research report on Tuesday, April 21st. Mizuho set a $79.00 price objective on shares of Edison International in a research report on Thursday, February 19th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $62.00 price objective on shares of Edison International in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned 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.

Insider Activity at Edison International

In other news, Director Peter J. Taylor sold 500 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $75.30, for a total value of $37,650.00. Following the completion of the transaction, the director owned 34,212 shares of the company’s stock, valued at $2,576,163.60. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company’s stock.

Edison International Stock Up 0.1%

EIX stock opened at $71.01 on Thursday. The stock has a market capitalization of $27.32 billion, a P/E ratio of 7.71, a price-to-earnings-growth ratio of 1.23 and a beta of 0.67. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98. Edison International has a 12 month low of $47.73 and a 12 month high of $76.21. The firm has a 50-day moving average price of $70.93 and a 200-day moving average price of $66.34.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.10. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, equities research analysts anticipate that Edison International will post 6.12 EPS for the current fiscal year.

Edison International Company 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.