Van ECK Associates Corp Acquires 12,071 Shares of Edison International (NYSE:EIX) (2024)

Van ECK Associates Corp increased its holdings in shares of Edison International (NYSE:EIX - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,010 shares of the utilities provider's stock after acquiring an additional 12,071 shares during the quarter. Van ECK Associates Corp's holdings in Edison International were worth $9,624,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EIX. Capital Research Global Investors boosted its stake in Edison International by 1.7% during the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider's stock valued at $1,438,984,000 after purchasing an additional 345,189 shares during the period. Pzena Investment Management LLC grew its holdings in Edison International by 2.3% in the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider's stock worth $962,287,000 after buying an additional 305,459 shares in the last quarter. Capital International Investors increased its position in Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider's stock valued at $940,562,000 after acquiring an additional 795,950 shares during the period. Wellington Management Group LLP raised its stake in Edison International by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider's stock valued at $734,632,000 after acquiring an additional 433,845 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Edison International by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider's stock worth $376,166,000 after acquiring an additional 202,541 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EIX. Evercore ISI raised their price target on Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, August 14th. Mizuho increased their price objective on shares of Edison International from $75.00 to $85.00 and gave the company a "buy" rating in a report on Friday, May 17th. Barclays raised their price objective on shares of Edison International from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 30th. Guggenheim upped their target price on Edison International from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Finally, Argus lifted their price target on Edison International from $78.00 to $82.00 and gave the company a "buy" rating in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $80.73.

Check Out Our Latest Stock Analysis on EIX

Edison International Price Performance

Shares of NYSE EIX traded up $0.30 during mid-day trading on Tuesday, reaching $87.33. The company had a trading volume of 1,503,546 shares, compared to its average volume of 1,735,318. Edison International has a 1-year low of $58.82 and a 1-year high of $87.89. The stock has a market cap of $33.73 billion, a PE ratio of 38.30 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The company has a 50-day moving average price of $78.50 and a two-hundred day moving average price of $73.75.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 earnings per share. On average, equities analysts anticipate that Edison International will post 4.94 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Monday, July 8th. Edison International's dividend payout ratio (DPR) is currently 136.84%.

Insider Activity

In related news, CEO J Andrew Murphy sold 23,896 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company's stock, valued at $1,696,182.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO J Andrew Murphy sold 23,896 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company's stock, valued at $1,696,182.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now owns 6,338 shares of the company's stock, valued at $507,040. The disclosure for this sale can be found here. Insiders sold 99,103 shares of company stock worth $7,981,345 over the last quarter. Corporate insiders own 1.03% of the company's stock.

Edison International Company Profile

(Free Report)

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.

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