MADDEN SECURITIES Corp Sells 9,410 Shares of Edison International $EIX

MADDEN SECURITIES Corp reduced its holdings in shares of Edison International (NYSE:EIX) by 19.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,380 shares of the utilities provider’s stock after selling 9,410 shares during the quarter. MADDEN SECURITIES Corp’s holdings in Edison International were worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its holdings in shares of Edison International by 2.7% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider’s stock valued at $383,000 after acquiring an additional 196 shares during the last quarter. Kentucky Trust Co lifted its position in Edison International by 66.7% during the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 200 shares during the period. MAI Capital Management boosted 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 purchasing an additional 202 shares during the last quarter. Empowered Funds LLC grew its position in 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. Finally, DekaBank Deutsche Girozentrale raised its stake in Edison International by 0.3% during the 2nd 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 currently owned by institutional investors.

Edison International Stock Up 2.3%

EIX opened at $60.96 on Friday. The stock has a market cap of $23.46 billion, a price-to-earnings ratio of 7.97, a price-to-earnings-growth ratio of 0.87 and a beta of 0.83. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. The firm’s fifty day moving average is $58.63 and its 200 day moving average is $55.76. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $70.50.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.18. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter last year, the business posted $1.51 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. On average, sell-side analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th will be issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.8%. This is a boost from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, January 7th. Edison International’s payout ratio is presently 45.88%.

Wall Street Analyst Weigh In

EIX has been the subject of several research analyst reports. Cowen assumed coverage on Edison International in a report on Wednesday, October 15th. They issued a “buy” rating for the company. Jefferies Financial Group increased their price target on shares of Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. LADENBURG THALM/SH SH upped their price objective on Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. TD Cowen assumed coverage on Edison International in a report on Thursday, October 16th. They issued a “buy” rating and a $71.00 target price on the stock. Finally, Wall Street Zen lowered Edison International from a “buy” rating to a “hold” rating in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Edison International currently has an average rating of “Hold” and a consensus price target of $63.50.

Insiders Place Their Bets

In related news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the completion of the transaction, the director directly owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

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.