California Public Employees Retirement System Has $72.03 Million Holdings in Edison International (EIX)

California Public Employees Retirement System raised its holdings in shares of Edison International (NYSE:EIX) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 933,358 shares of the utilities provider’s stock after buying an additional 51,716 shares during the period. California Public Employees Retirement System owned about 0.29% of Edison International worth $72,027,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EIX. HL Financial Services LLC boosted its position in Edison International by 2.7% during the second quarter. HL Financial Services LLC now owns 2,681 shares of the utilities provider’s stock valued at $210,000 after buying an additional 70 shares during the period. Global X Management Co. LLC boosted its position in Edison International by 23.9% during the second quarter. Global X Management Co. LLC now owns 9,317 shares of the utilities provider’s stock valued at $728,000 after buying an additional 1,796 shares during the period. Wetherby Asset Management Inc. boosted its position in Edison International by 0.3% during the second quarter. Wetherby Asset Management Inc. now owns 3,824 shares of the utilities provider’s stock valued at $299,000 after buying an additional 12 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Edison International by 9.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 72,855 shares of the utilities provider’s stock valued at $5,791,000 after buying an additional 6,117 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in Edison International by 3,149.3% during the second quarter. Teacher Retirement System of Texas now owns 109,860 shares of the utilities provider’s stock valued at $8,590,000 after buying an additional 106,479 shares during the period. Institutional investors and hedge funds own 81.36% of the company’s stock.

In related news, insider Ronald L. Litzinger sold 224,718 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total value of $18,426,876.00. Following the completion of the transaction, the insider now directly owns 14,121 shares of the company’s stock, valued at $1,157,922. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.41% of the stock is owned by corporate insiders.

EIX has been the subject of several recent analyst reports. Citigroup set a $87.00 price objective on shares of Edison International and gave the company a “hold” rating in a research note on Tuesday. ValuEngine raised shares of Edison International from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. SunTrust Banks reaffirmed a “buy” rating and set a $89.00 price objective on shares of Edison International in a research note on Monday, October 30th. Mizuho downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 6th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price objective on shares of Edison International in a research note on Thursday, August 17th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $84.54.

Edison International (EIX) opened at $68.58 on Wednesday. Edison International has a one year low of $67.28 and a one year high of $83.38. The stock has a market cap of $23,777.70, a PE ratio of 16.62, a P/E/G ratio of 2.65 and a beta of 0.23. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80.

Edison International (NYSE:EIX) last released its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.10. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. Edison International’s revenue was down 2.5% on a year-over-year basis. analysts anticipate that Edison International will post 4.33 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be paid a $0.605 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Thursday, December 28th. Edison International’s dividend payout ratio is presently 48.98%.

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Edison International Profile

Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.

Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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