New York State Common Retirement Fund Sells 88,577 Shares of Edison International (NYSE:EIX)

New York State Common Retirement Fund cut its holdings in shares of Edison International (NYSE:EIX) by 28.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 220,291 shares of the utilities provider’s stock after selling 88,577 shares during the quarter. New York State Common Retirement Fund’s holdings in Edison International were worth $19,185,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in EIX. M&G Plc bought a new position in shares of Edison International during the first quarter worth approximately $85,436,000. abrdn plc increased its holdings in shares of Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after purchasing an additional 885,955 shares during the period. Capital International Investors increased its holdings in shares of Edison International by 6.4% during the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after purchasing an additional 795,950 shares during the period. Capital Research Global Investors increased its holdings in shares of Edison International by 1.7% during the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after purchasing an additional 345,189 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Edison International by 595.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after purchasing an additional 272,876 shares during the period. 88.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on EIX. Bank of America began coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. Argus lifted their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Barclays lifted their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Guggenheim lifted their price objective 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, Royal Bank of Canada lifted their price objective on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.36.

Edison International Stock Performance

Shares of Edison International stock opened at $81.00 on Tuesday. Edison International has a fifty-two week low of $62.21 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.96. The firm has a market capitalization of $31.36 billion, a P/E ratio of 23.75, a P/E/G ratio of 1.92 and a beta of 0.92. The company’s 50 day moving average price is $85.31 and its two-hundred day moving average price is $78.98.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.38 earnings per share. On average, equities analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.85%. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,687,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO J Andrew Murphy sold 1,362 shares of the business’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 value of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,877 shares of company stock worth $4,285,341. Company insiders own 1.03% of the company’s stock.

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.