Public Sector Pension Investment Board Buys 21,784 Shares of Edison International (NYSE:EIX)

Public Sector Pension Investment Board grew its stake in shares of Edison International (NYSE:EIX) by 50.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,215 shares of the utilities provider’s stock after purchasing an additional 21,784 shares during the period. Public Sector Pension Investment Board’s holdings in Edison International were worth $4,683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EIX. Able Wealth Management LLC bought a new stake in Edison International during the 4th quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in Edison International in the second quarter worth $27,000. Global Trust Asset Management LLC purchased a new stake in Edison International in the first quarter worth $28,000. Country Trust Bank bought a new position in Edison International in the second quarter worth $29,000. Finally, Farmers & Merchants Investments Inc. lifted its position 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 buying an additional 140 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 0.9 %

Shares of NYSE:EIX opened at $86.24 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The company has a market cap of $33.18 billion, a P/E ratio of 37.82, a PEG ratio of 1.99 and a beta of 0.91. The stock’s fifty day moving average price is $83.02 and its 200-day moving average price is $75.88.

Edison International (NYSE:EIX) last posted its 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. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the business earned $1.01 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts expect that Edison International will post 4.97 earnings per share for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be paid a $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,687,250. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,687,250. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The disclosure for this sale can be found here. Insiders sold 89,099 shares of company stock valued at $7,223,342 over the last 90 days. Company insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

EIX has been the subject of several research reports. Barclays increased their price target 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. Guggenheim raised their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $94.00 price target on shares of Edison International in a research report on Monday, September 16th. Morgan Stanley raised their price objective on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, Argus boosted their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $86.17.

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.