Daytona Street Capital LLC Buys 10,000 Shares of Edison International $EIX

Daytona Street Capital LLC bought a new stake in Edison International (NYSE:EIX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the utilities provider’s stock, valued at approximately $536,000.

Other hedge funds also recently modified their holdings of the company. Avior Wealth Management LLC grew its holdings in shares of Edison International by 4.7% during the second quarter. Avior Wealth Management LLC now owns 2,956 shares of the utilities provider’s stock valued at $220,000 after buying an additional 134 shares in the last quarter. Equitable Trust Co. raised its position in Edison International by 0.8% during the first quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider’s stock valued at $1,435,000 after buying an additional 148 shares during the period. Altshuler Shaham Ltd raised its position in Edison International by 36.6% during the first quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider’s stock valued at $42,000 after buying an additional 155 shares during the period. Cidel Asset Management Inc. raised its position in Edison International by 3.0% during the second quarter. Cidel Asset Management Inc. now owns 6,088 shares of the utilities provider’s stock valued at $453,000 after buying an additional 178 shares during the period. Finally, Paladin Wealth LLC lifted its stake in Edison International by 6.3% in the 2nd quarter. Paladin Wealth LLC now owns 3,035 shares of the utilities provider’s stock worth $226,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Activity at Edison International

In other news, Director Peter Taylor sold 500 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $55.56, for a total transaction of $27,780.00. Following the transaction, the director owned 33,212 shares of the company’s stock, valued at approximately $1,845,258.72. This represents a 1.48% decrease in their position. The sale 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 Up 0.2%

EIX stock opened at $55.57 on Friday. The firm has a market cap of $21.38 billion, a PE ratio of 5.73, a PEG ratio of 2.23 and a beta of 0.62. Edison International has a 1 year low of $51.10 and a 1 year high of $81.62. The company has a fifty day simple moving average of $60.44 and a 200 day simple moving average of $68.41. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 30th. The utilities provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.18 by $0.36. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The firm had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the business posted $0.97 earnings per share. The business’s quarterly revenue was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Sell-side analysts anticipate that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Wednesday, October 7th will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Wednesday, October 7th. Edison International’s dividend payout ratio is 36.19%.

Analyst Ratings Changes

A number of equities research analysts have commented on EIX shares. Morgan Stanley decreased their price objective on Edison International from $65.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, September 18th. Bank of America cut Edison International from a “buy” rating to a “neutral” rating and lowered their target price for the company from $81.00 to $51.00 in a research note on Tuesday, September 1st. Weiss Ratings downgraded Edison International from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, September 10th. Jefferies Financial Group reiterated an “underperform” rating and issued a $42.00 target price (down from $53.00) on shares of Edison International in a report on Friday, October 2nd. Finally, The Goldman Sachs Group set a $67.00 price target on shares of Edison International in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Edison International has an average rating of “Reduce” and an average target price of $60.75.

Edison International Company Profile

Edison International is a publicly owned holding company based in Rosemead, California. Its principal subsidiary, Southern California Edison (SCE), is an electric utility that generates, transmits, and distributes electricity across central, coastal, and Southern California.

SCE provides electric service to residential, commercial, industrial, and public-sector customers and manages a large transmission and distribution network. The utility is also involved in grid modernization, wildfire mitigation, renewable energy integration, energy efficiency, and the development of electric transportation infrastructure.

Edison International’s history is rooted in Southern California Edison, which traces its origins to the late 19th century.