QRG Capital Management Inc. Buys 37,007 Shares of Edison International $EIX

QRG Capital Management Inc. grew its stake in Edison International (NYSE:EIX) by 246.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,021 shares of the utilities provider’s stock after purchasing an additional 37,007 shares during the period. QRG Capital Management Inc.’s holdings in Edison International were worth $3,807,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EIX. UMB Bank n.a. raised its holdings in Edison International by 5.3% during the 4th quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider’s stock valued at $190,000 after buying an additional 159 shares during the period. LVW Advisors LLC boosted its stake in Edison International by 4.6% during the fourth quarter. LVW Advisors LLC now owns 4,224 shares of the utilities provider’s stock worth $254,000 after buying an additional 186 shares during the period. Huntington National Bank increased its position in Edison International by 6.2% during the fourth quarter. Huntington National Bank now owns 3,351 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 196 shares during the last quarter. Diligent Investors LLC increased its position in Edison International by 1.5% during the third quarter. Diligent Investors LLC now owns 13,895 shares of the utilities provider’s stock valued at $768,000 after acquiring an additional 201 shares during the last quarter. Finally, Empowered Funds LLC raised 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 valued at $523,000 after acquiring an additional 211 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EIX. Wells Fargo & Company restated an “underweight” rating and issued a $62.00 target price on shares of Edison International in a report on Tuesday, April 21st. Barclays cut their price target on shares of Edison International from $78.00 to $77.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings raised shares of Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. raised their price objective on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Finally, Seaport Research Partners cut Edison International from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Edison International currently has an average rating of “Hold” and an average price target of $72.64.

Insider Buying and Selling at Edison International

In other news, Director Peter J. Taylor sold 500 shares of Edison International stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $75.30, for a total transaction of $37,650.00. Following the completion of the sale, the director owned 34,212 shares of the company’s stock, valued at approximately $2,576,163.60. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company’s stock.

Edison International Stock Down 0.0%

NYSE:EIX opened at $75.63 on Monday. The company has a market cap of $29.10 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 1.31 and a beta of 0.66. Edison International has a twelve month low of $49.14 and a twelve month high of $76.21. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98. The stock has a fifty day simple moving average of $71.28 and a 200-day simple moving average of $68.66.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, topping 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 analysts’ expectations of $4.15 billion. During the same period in the prior year, the business posted $1.37 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Analysts anticipate that Edison International will post 6.12 EPS for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders 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 dividend yield of 4.6%. Edison International’s dividend payout ratio (DPR) is 38.11%.

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.