QRG Capital Management Inc. Increases Stake in Edison International $EIX

QRG Capital Management Inc. lifted its position in Edison International (NYSE:EIX) by 246.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,021 shares of the utilities provider’s stock after acquiring an additional 37,007 shares during the quarter. QRG Capital Management Inc.’s holdings in Edison International were worth $3,807,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its position in Edison International by 112.9% during the 1st quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock valued at $577,000 after purchasing an additional 5,190 shares during the period. Empowered Funds LLC lifted its position in shares of Edison International by 2.4% in the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after purchasing an additional 211 shares during the period. Woodline Partners LP lifted its position in shares of Edison International by 40.7% in the 1st quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock worth $1,927,000 after purchasing an additional 9,459 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of Edison International by 153.6% during the second quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 5,290 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new position in shares of Edison International during the second quarter valued at approximately $302,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on EIX shares. Seaport Research Partners downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. increased their target price on Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Truist Financial cut their price target on Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Weiss Ratings raised Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 15th. Finally, Morgan Stanley restated an “underweight” rating on shares of Edison International in a research note on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.64.

Insiders Place Their Bets

In other Edison International news, Director Peter J. Taylor sold 500 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $75.30, for a total transaction of $37,650.00. Following the sale, the director owned 34,212 shares in the company, valued at approximately $2,576,163.60. The trade was a 1.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company’s stock.

Edison International Stock Down 0.0%

EIX stock opened at $75.63 on Monday. The firm has a 50 day moving average of $71.28 and a 200 day moving average of $68.66. The stock has a market capitalization of $29.10 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 1.31 and a beta of 0.66. Edison International has a 52 week low of $49.14 and a 52 week high of $76.21. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the company earned $1.37 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Sell-side analysts forecast that Edison International will post 6.12 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a yield of 4.6%. Edison International’s payout ratio is currently 38.11%.

Edison International 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.