Federated Hermes Inc. Increases Holdings in Edison International $EIX

Federated Hermes Inc. grew its stake in Edison International (NYSE:EIX) by 118.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 513,462 shares of the utilities provider’s stock after acquiring an additional 278,569 shares during the quarter. Federated Hermes Inc. owned 0.13% of Edison International worth $26,495,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in shares of Edison International by 2.7% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider’s stock worth $383,000 after purchasing an additional 196 shares during the last quarter. Kentucky Trust Co increased its stake in Edison International by 66.7% during the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. MAI Capital Management raised its holdings in Edison International by 20.8% in the second quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock worth $60,000 after buying an additional 202 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Edison International by 2.4% in the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after buying an additional 211 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Edison International by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock valued at $3,818,000 after buying an additional 213 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Edison International from a “buy” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group boosted their price target on Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. increased their price objective on Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Barclays decreased 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, Zacks Research upgraded shares of Edison International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $64.50.

Edison International Trading Up 1.1%

Shares of NYSE:EIX opened at $56.63 on Wednesday. The stock’s 50-day simple moving average is $56.80 and its two-hundred day simple moving average is $54.63. The stock has a market capitalization of $21.79 billion, a price-to-earnings ratio of 7.40, a PEG ratio of 0.84 and a beta of 0.83. 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 quick ratio of 0.76 and a current ratio of 0.82.

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

Edison International Announces Dividend

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

Insider Activity

In other news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction 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 completion of the sale, the director directly owned 35,212 shares in the company, valued at $1,946,167.24. This represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is currently owned by insiders.

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.