Nordea Investment Management AB Raises Holdings in Edison International $EIX

Nordea Investment Management AB lifted its position in shares of Edison International (NYSE:EIX) by 1.7% during the third quarter, Holdings Channel reports. The firm owned 1,695,550 shares of the utilities provider’s stock after acquiring an additional 28,586 shares during the quarter. Nordea Investment Management AB’s holdings in Edison International were worth $92,984,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System raised its stake in shares of Edison International by 5.3% during the 2nd quarter. Maryland State Retirement & Pension System now owns 364,525 shares of the utilities provider’s stock worth $18,809,000 after buying an additional 18,412 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Edison International by 7.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 132,866 shares of the utilities provider’s stock worth $6,982,000 after acquiring an additional 9,015 shares during the period. Chicago Partners Investment Group LLC purchased a new position in Edison International in the second quarter worth $456,000. Moody National Bank Trust Division boosted its position in shares of Edison International by 107.2% during the 2nd quarter. Moody National Bank Trust Division now owns 23,573 shares of the utilities provider’s stock worth $1,216,000 after purchasing an additional 12,195 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of Edison International by 237.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,904,568 shares of the utilities provider’s stock worth $98,276,000 after purchasing an additional 1,339,806 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Activity

In related news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction that occurred 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 owned 35,212 shares in the company, valued at approximately $1,946,167.24. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the subject of several recent analyst reports. TD Cowen started coverage on shares of Edison International in a research note on Thursday, October 16th. They issued a “buy” rating and a $71.00 price objective for the company. Barclays reduced their price target on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Wall Street Zen raised Edison International from a “hold” rating to a “buy” rating in a research note on Thursday. Cowen initiated coverage on Edison International in a report on Wednesday, October 15th. They set a “buy” rating for the company. Finally, Zacks Research lowered Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Edison International presently has a consensus rating of “Hold” and a consensus price target of $63.50.

Edison International Price Performance

Shares of NYSE:EIX opened at $61.61 on Thursday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. The business’s fifty day moving average price is $58.93 and its two-hundred day moving average price is $56.01. The stock has a market cap of $23.71 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 0.89 and a beta of 0.83. Edison International has a one year low of $47.73 and a one year high of $63.97.

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

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th will be given a $0.8775 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 45.88%.

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.