Illinois Municipal Retirement Fund Sells 26,078 Shares of Edison International (NYSE:EIX)

Illinois Municipal Retirement Fund trimmed its holdings in Edison International (NYSE:EIX) by 15.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,136 shares of the utilities provider’s stock after selling 26,078 shares during the period. Illinois Municipal Retirement Fund’s holdings in Edison International were worth $10,566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in EIX. Able Wealth Management LLC purchased a new position in Edison International in the 4th quarter worth approximately $25,000. Global Trust Asset Management LLC purchased a new position in shares of Edison International in the first quarter worth $28,000. Country Trust Bank bought a new position in shares of Edison International during the second quarter worth $29,000. Farmers & Merchants Investments Inc. grew its stake in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in Edison International in the 2nd quarter valued at $32,000. Institutional investors own 88.95% of the company’s stock.

Insider Activity at Edison International

In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock worth $7,223,342 in the last quarter. 1.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

EIX has been the subject of several research reports. UBS Group increased their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday. Guggenheim increased their price target on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Morgan Stanley lifted their price objective on Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Evercore ISI increased their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Finally, Argus boosted their price target on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Edison International currently has a consensus rating of “Hold” and a consensus target price of $82.36.

Edison International Trading Down 1.1 %

EIX stock opened at $86.65 on Friday. Edison International has a twelve month low of $58.82 and a twelve month high of $88.77. The stock has a market capitalization of $33.46 billion, a price-to-earnings ratio of 38.00 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The firm’s fifty day simple moving average is $79.74 and its two-hundred day simple moving average is $74.28.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the firm posted $1.01 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that Edison International will post 4.96 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio is currently 136.84%.

Edison International Company 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.