Public Employees Retirement System of Ohio Sells 15,396 Shares of Edison International (NYSE:EIX)

Public Employees Retirement System of Ohio reduced its stake in shares of Edison International (NYSE:EIX) by 9.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 152,981 shares of the utilities provider’s stock after selling 15,396 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Edison International were worth $10,820,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EIX. Capital Research Global Investors increased its position in shares of Edison International by 1.7% during the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after purchasing an additional 345,189 shares in the last quarter. Pzena Investment Management LLC increased its holdings in shares of Edison International by 2.3% during the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after buying an additional 305,459 shares in the last quarter. Capital International Investors raised its stake in shares of Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after acquiring an additional 795,950 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Edison International by 4.4% in the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock worth $734,632,000 after acquiring an additional 433,845 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Edison International by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock worth $376,166,000 after acquiring an additional 202,541 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Caroline Choi sold 10,004 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction dated 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 of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the sale, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,475,876.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,897 shares of company stock worth $5,851,245. 1.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Argus lifted their price objective on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Mizuho upped their price target on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Barclays increased their price objective on shares of Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Morgan Stanley reduced their target price on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. Finally, Wells Fargo & Company increased their price target on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Edison International currently has an average rating of “Hold” and a consensus target price of $77.82.

Edison International Trading Down 0.4 %

EIX stock traded down $0.31 during midday trading on Monday, hitting $78.20. 1,474,540 shares of the company’s stock were exchanged, compared to its average volume of 2,012,143. Edison International has a one year low of $58.82 and a one year high of $79.50. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The company has a market cap of $30.20 billion, a PE ratio of 34.30 and a beta of 0.91. The stock’s fifty day moving average price is $73.81 and its 200-day moving average price is $70.85.

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

Edison International Dividend Announcement

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

About Edison International

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.