Edison International (NYSE:EIX) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in Edison International (NYSE:EIX) by 8.2% in the first quarter, Holdings Channel reports. The fund owned 40,594 shares of the utilities provider’s stock after selling 3,627 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Edison International were worth $2,871,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EIX. Able Wealth Management LLC acquired a new stake in shares of Edison International during the 4th quarter worth about $25,000. Global Trust Asset Management LLC acquired a new stake in shares of Edison International during the 1st quarter worth about $28,000. Northwest Financial Advisors acquired a new stake in shares of Edison International during the 4th quarter worth about $40,000. GAMMA Investing LLC acquired a new stake in shares of Edison International during the 4th quarter worth about $48,000. Finally, Mather Group LLC. acquired a new stake in shares of Edison International during the 1st quarter worth about $52,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Trading Down 0.4 %

EIX opened at $78.20 on Tuesday. The firm has a market cap of $30.20 billion, a price-to-earnings ratio of 34.30 and a beta of 0.91. Edison International has a 52 week low of $58.82 and a 52 week high of $79.50. The business’s 50 day moving average is $73.85 and its two-hundred day moving average is $70.90. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. On average, research analysts predict that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Monday, July 8th. Edison International’s dividend payout ratio is presently 136.84%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EIX. Morgan Stanley cut their price objective on Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a research report on Monday, June 24th. Wells Fargo & Company raised their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho lifted their target price on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 17th. UBS Group downgraded Edison International from a “buy” rating to a “neutral” rating and dropped their target price for the company from $83.00 to $82.00 in a research report on Friday, July 19th. Finally, The Goldman Sachs Group started coverage on Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $78.27.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 9,794 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,475,876.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now owns 26,918 shares in the company, valued at $2,039,576.86. The disclosure for this sale can be found here. Insiders have sold 106,892 shares of company stock valued at $8,125,323 over the last quarter. Company insiders own 1.03% of the company’s stock.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.