Assetmark Inc. Has $117.19 Million Holdings in Edison International $EIX

Assetmark Inc. boosted its stake in Edison International (NYSE:EIX) by 1,118.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,601,327 shares of the utilities provider’s stock after purchasing an additional 1,469,860 shares during the quarter. Assetmark Inc. owned about 0.42% of Edison International worth $117,185,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Equitable Trust Co. increased its stake in Edison International by 0.8% in the first quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider’s stock valued at $1,435,000 after purchasing an additional 148 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Edison International by 5.3% in 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 increased its position in shares of Edison International by 4.6% in the 4th quarter. LVW Advisors LLC now owns 4,224 shares of the utilities provider’s stock valued at $254,000 after buying an additional 186 shares in the last quarter. Sterling Group Wealth Management LLC increased its position in shares of Edison International by 2.7% in the 1st quarter. Sterling Group Wealth Management LLC now owns 7,213 shares of the utilities provider’s stock valued at $528,000 after buying an additional 190 shares in the last quarter. Finally, Huntington National Bank raised its stake in Edison International by 6.2% during the 4th quarter. Huntington National Bank now owns 3,351 shares of the utilities provider’s stock worth $201,000 after buying an additional 196 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EIX. Weiss Ratings reiterated a “buy (b-)” rating on shares of Edison International in a report on Monday. Barclays increased their price target on Edison International from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday. Truist Financial dropped their price target on Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Morgan Stanley reiterated an “underweight” rating on shares of Edison International in a report on Wednesday, June 24th. Finally, Seaport Research Partners lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.73.

Edison International Price Performance

Shares of NYSE EIX opened at $77.98 on Friday. The stock has a market capitalization of $30.01 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 1.33 and a beta of 0.66. The business has a 50-day moving average of $72.54 and a 200-day moving average of $69.67. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.74 and a quick ratio of 0.68. Edison International has a fifty-two week low of $50.58 and a fifty-two week high of $78.28.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Tuesday, July 7th. Edison International’s payout ratio is presently 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.