Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $53.69 Million Holdings in Edison International (NYSE:EIX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Edison International (NYSE:EIX) by 6.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 759,092 shares of the utilities provider’s stock after acquiring an additional 47,160 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Edison International were worth $53,691,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of EIX. Capital Research Global Investors lifted its position in Edison International by 23.0% during the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock valued at $1,429,769,000 after purchasing an additional 3,734,550 shares during the period. Norges Bank acquired a new position in Edison International in the fourth quarter valued at approximately $210,327,000. Morningstar Investment Services LLC lifted its holdings in Edison International by 98.1% in the fourth quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock valued at $96,492,000 after buying an additional 667,273 shares during the period. California Public Employees Retirement System lifted its holdings in Edison International by 62.1% in the fourth quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider’s stock valued at $108,236,000 after buying an additional 580,117 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in Edison International by 39.5% in the fourth quarter. Hsbc Holdings PLC now owns 1,719,916 shares of the utilities provider’s stock valued at $122,914,000 after buying an additional 486,808 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on EIX shares. Mizuho raised their target price on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Morgan Stanley reduced their price objective on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. Wells Fargo & Company raised shares of Edison International from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $72.00 to $86.00 in a research note on Tuesday, May 14th. Argus boosted their price target on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Finally, Barclays upped their price objective on shares of Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $77.40.

Edison International Stock Up 1.1 %

EIX traded up $0.84 during trading on Tuesday, hitting $73.89. The company had a trading volume of 1,861,454 shares, compared to its average volume of 2,023,137. The company has a market capitalization of $28.43 billion, a PE ratio of 32.41 and a beta of 0.91. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. Edison International has a one year low of $58.82 and a one year high of $77.04. The firm’s 50-day moving average price is $73.69 and its 200 day moving average price is $70.65.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.01. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. As a group, equities analysts expect that Edison International will post 4.92 earnings per share for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Monday, July 8th. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 58,099 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was 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 $2,039,576.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The disclosure for this sale can be found here. Insiders sold 77,897 shares of company stock valued at $5,851,245 in the last ninety days. 1.03% of the stock is currently owned by corporate insiders.

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.