Public Employees Retirement System of Ohio Decreases Stock Holdings in Edison International (NYSE:EIX)

Public Employees Retirement System of Ohio reduced its stake in Edison International (NYSE:EIX - Free Report) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,505 shares of the utilities provider's stock after selling 8,279 shares during the period. Public Employees Retirement System of Ohio's holdings in Edison International were worth $10,819,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of EIX. Norges Bank purchased a new position in shares of Edison International in the fourth quarter worth $323,443,000. Canada Pension Plan Investment Board increased its position in shares of Edison International by 364.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock valued at $269,024,000 after acquiring an additional 2,643,571 shares during the period. Northern Trust Corp increased its position in shares of Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after acquiring an additional 2,016,017 shares during the period. Ameriprise Financial Inc. increased its position in shares of Edison International by 149.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock valued at $223,057,000 after acquiring an additional 1,673,204 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Edison International by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock valued at $3,879,408,000 after acquiring an additional 1,559,501 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on EIX shares. The Goldman Sachs Group reduced their price target on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. UBS Group raised Edison International from a "neutral" rating to a "buy" rating and reduced their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Wells Fargo & Company reduced their target price on Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Finally, Barclays boosted their target price on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $76.89.

Edison International Stock Down 3.5%

Edison International stock traded down $1.99 on Wednesday, hitting $55.11. 2,378,066 shares of the stock traded hands, compared to its average volume of 3,045,299. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market cap of $21.20 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The business's fifty day simple moving average is $56.73 and its 200 day simple moving average is $63.99. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same period last year, the company posted $1.13 EPS. Edison International's revenue was down 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th were issued a $0.8275 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 6.01%. Edison International's dividend payout ratio (DPR) is presently 46.95%.

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.