Pzena Investment Management LLC has recently announced that it has increased stake in Edison International (NYSE:EIX) by 1.50%. After grabbing 13.32 million shares, the institutional investor is now in possession of 0.2 million shares of the Utilities Company. The new investment brought the stake of investor firm to 3.47% having worth around $952.02 million. Moreover, Wellington Management Co. LLP increased its share by 0.32 million to have a control over 9.84 million shares. And Geode Capital Management LLC raised its holdings to 0.16 million shares by acquiring 8.27 million shares or 2.16% of the stake.
Edison International (EIX) concluded trading on Wednesday at a closing price of $65.18, with 4.45 million shares of worth about $289.8 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -9.96% during that period and On Wednesday, January 24 the price saw a loss of about -2.73%. Currently the company’s common shares owned by public are about 383.57M shares, out of which, 383.19M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 35 times over the past 12 months. They bought 72,657 shares in 15 of the transactions. In 20 selling transactions, insiders dumped 47,951 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and American Funds Investment Company are the top 3 mutual funds which are holding stakes in Edison International Vanguard Total Stock Market ETF is currently holding 12.03 million shares of worth totaling $859.96 million. The company recently came buying 10474.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund bought 17371.0 shares, after which its hold over company’s outstanding shares expand to 2.44%, leaving 9.36 million shares with the mutual fund that have a worth of about $669.02 million. American Funds Investment Company, after selling 9.06 million shares, have now control over 2.36% of the stake in the company. It holds 3896.0 shares of worth $647.57 million.
Stock saw a price change of -5.95% in past 5 days and over the past one month there was a price change of -5.36%. Year-to-date (YTD), EIX shares are showing a performance of -8.83% which decreased to -2.76% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $58.82 but also hit the highest price of $74.92 during that period. The average intraday trading volume for Edison International shares is 2.12 million. The stock is currently trading -8.00% below its 20-day simple moving average (SMA20), while that difference is down -4.85% for SMA50 and it goes to -5.12% lower than SMA200.
Pzena Investment Management LLC acquired 13.32 million shares of Edison International having value of about $952.02 million. Data submitted at the U.S SEC by Pzena Investment Management LLC revealed that the firm now holds 0.2 million shares in the company valued at close to $12857341.62, or have control over 1.50% stake in the company. Edison International (NYSE: EIX) currently have 383.57M outstanding shares and institutions hold larger chunk of about 90.73% of that. Holding of mutual funds in the company is about 29.90% while other institutional holders and individual stake holders have control over 61.53% and 0.53% of the stake respectively.
The stock has a current market capitalization of $25.00B and its 3Y-monthly beta is at 0.98. PE ratio of stock for trailing 12 months is 20.31, while it has posted earnings per share of $3.21 in the same period. Its PEG reads 4.19 and has Quick Ratio of 0.75 while making debt-to-equity ratio of 2.22. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EIX, volatility over the week remained 2.22% while standing at 1.81% over the month.
Analysts are in expectations that Edison International (EIX) stock would likely to be making an EPS of $Edison International in the current quarter, while forecast for next quarter EPS is $65.18 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $CONSOL Energy Inc. which is $Wix.com Ltd. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Equinox Gold Corp. in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 0.62% while it is estimated to increase by 9.06% in next year. EPS is likely to grow at an annualized rate of 4.85% for next 5-years, compared to annual growth of -1.49% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Guggenheim on January 22, 2024 offering a Buy rating for the stock and assigned a target price of $84 to it.
