Public Employees Retirement Association of Colorado Sells 1,140 Shares of Edison International (NYSE:EIX)

Public Employees Retirement Association of Colorado cut its position in shares of Edison International (NYSE:EIX) by 2.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,454 shares of the utilities provider’s stock after selling 1,140 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Edison International were worth $2,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Able Wealth Management LLC bought a new position in shares of Edison International during the 4th quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in Edison International in the 2nd quarter valued at $27,000. Global Trust Asset Management LLC bought a new stake in Edison International during the 1st quarter worth about $28,000. Country Trust Bank acquired a new position in shares of Edison International during the 2nd quarter worth about $29,000. Finally, Farmers & Merchants Investments Inc. boosted its stake in shares of Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EIX shares. Wells Fargo & Company upped their target price on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Morgan Stanley increased their price objective on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Argus upped their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Guggenheim increased their price target on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Barclays boosted their price objective on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $85.83.

Edison International Trading Up 0.8 %

Shares of EIX stock opened at $86.08 on Tuesday. Edison International has a 12-month low of $58.82 and a 12-month high of $88.77. The company has a market capitalization of $33.12 billion, a PE ratio of 37.75, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91. The firm has a 50 day moving average price of $82.58 and a two-hundred day moving average price of $75.70. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. As a group, analysts predict that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.62%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is 136.84%.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 32,505 shares of Edison International stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,575,159.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO J Andrew Murphy sold 32,505 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,575,159.20. The disclosure for this sale can be found here. Insiders sold 89,099 shares of company stock valued at $7,223,342 in 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.