Cerity Partners LLC Acquires 136,652 Shares of Edison International $EIX

Cerity Partners LLC boosted its holdings in Edison International (NYSE:EIX) by 46.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 429,367 shares of the utilities provider’s stock after buying an additional 136,652 shares during the period. Cerity Partners LLC owned approximately 0.11% of Edison International worth $22,155,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. grew its stake in shares of Edison International by 118.6% in the second quarter. Federated Hermes Inc. now owns 513,462 shares of the utilities provider’s stock worth $26,495,000 after acquiring an additional 278,569 shares during the last quarter. Jump Financial LLC boosted its holdings in Edison International by 683.9% in the 2nd quarter. Jump Financial LLC now owns 743,147 shares of the utilities provider’s stock valued at $38,346,000 after purchasing an additional 648,343 shares during the period. SageView Advisory Group LLC acquired a new stake in Edison International in the 2nd quarter worth $252,000. Baird Financial Group Inc. bought a new position in shares of Edison International during the 2nd quarter worth about $302,000. Finally, First Trust Advisors LP raised its position in shares of Edison International by 15.8% during the second quarter. First Trust Advisors LP now owns 2,357,914 shares of the utilities provider’s stock valued at $121,668,000 after buying an additional 321,884 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the transaction, the director directly owned 35,212 shares of the company’s stock, valued at $1,946,167.24. The trade was a 4.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research note on Monday. TD Cowen started coverage on Edison International in a report on Thursday, October 16th. They set a “buy” rating and a $71.00 price objective on the stock. Cowen initiated coverage on Edison International in a research report on Wednesday, October 15th. They set a “buy” rating on the stock. Barclays reduced their target price on Edison International from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Finally, Wall Street Zen lowered shares of Edison International from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Edison International currently has a consensus rating of “Hold” and a consensus price target of $64.50.

Edison International Stock Performance

Edison International stock opened at $56.63 on Wednesday. The firm has a market capitalization of $21.79 billion, a P/E ratio of 7.40, a P/E/G ratio of 0.84 and a beta of 0.83. The stock has a fifty day moving average price of $56.80 and a two-hundred day moving average price of $54.63. Edison International has a 52-week low of $47.73 and a 52-week high of $83.07. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76.

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

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th were issued a dividend of $0.8275 per share. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.8%. Edison International’s dividend payout ratio (DPR) is presently 43.27%.

About Edison International

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.