Assetmark Inc. Buys 1,469,860 Shares of Edison International $EIX

Assetmark Inc. increased its stake in shares of Edison International (NYSE:EIX) by 1,118.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,601,327 shares of the utilities provider’s stock after acquiring an additional 1,469,860 shares during the quarter. Assetmark Inc.’s holdings in Edison International were worth $117,185,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Edison International by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider’s stock worth $3,134,268,000 after acquiring an additional 480,726 shares during the last quarter. State Street Corp increased its stake in shares of Edison International by 3.0% during the fourth quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock worth $1,989,135,000 after purchasing an additional 953,800 shares during the period. AQR Capital Management LLC lifted its holdings in Edison International by 69.9% during the 4th quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock worth $1,097,475,000 after purchasing an additional 7,521,168 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Edison International by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock worth $803,407,000 after purchasing an additional 386,905 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Edison International by 12.3% in the 4th quarter. Northern Trust Corp now owns 6,070,324 shares of the utilities provider’s stock valued at $364,341,000 after purchasing an additional 662,477 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on EIX shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Edison International in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Wells Fargo & Company restated an “underweight” rating and issued a $62.00 price target on shares of Edison International in a research note on Tuesday, April 21st. Seaport Research Partners lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Finally, Barclays raised their price target on shares of Edison International from $77.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $72.73.

Edison International Stock Performance

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

Edison International (NYSE:EIX) last issued 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. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Edison International had a return on equity of 14.56% and a net margin of 19.27%.Edison International’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $1.37 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, equities analysts anticipate that Edison International will post 6.12 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be paid 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 dividend payout ratio is presently 38.11%.

About Edison International

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.