Flputnam Investment Management Co. Buys New Shares in Edison International $EIX

Flputnam Investment Management Co. purchased a new position in shares of Edison International (NYSE:EIX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 85,317 shares of the utilities provider’s stock, valued at approximately $6,352,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Edison International during the 2nd quarter valued at about $3,340,412,000. AQR Capital Management LLC boosted its stake in Edison International by 69.9% in the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock worth $1,097,475,000 after buying an additional 7,521,168 shares in the last quarter. Norges Bank bought a new position in Edison International during the fourth quarter valued at approximately $339,311,000. Legal & General Group Plc bought a new position in Edison International during the second quarter valued at approximately $329,766,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Edison International during the second quarter worth approximately $309,361,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Down 4.9%

Shares of NYSE:EIX opened at $70.09 on Friday. The stock’s 50-day moving average is $74.30 and its 200 day moving average is $72.35. The company has a market cap of $26.97 billion, a PE ratio of 7.23, a P/E/G ratio of 5.45 and a beta of 0.66. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. Edison International has a 1 year low of $52.00 and a 1 year high of $81.62.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.36. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Edison International had a return on equity of 15.53% and a net margin of 20.30%.The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Sell-side analysts anticipate that Edison International will post 6.13 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were issued a $0.8775 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 5.0%. Edison International’s payout ratio is 36.19%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EIX. Truist Financial reduced their target price on shares of Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a report on Tuesday, August 4th. Mizuho upped their price target on shares of Edison International from $79.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Morgan Stanley decreased their price objective on Edison International from $69.00 to $65.00 and set an “underweight” rating on the stock in a report on Friday, August 21st. Weiss Ratings raised Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Finally, Argus restated a “hold” rating on shares of Edison International in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Edison International currently has an average rating of “Hold” and an average target price of $72.45.

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.