California State Teachers Retirement System reduced its holdings in Edison International (NYSE:EIX) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 640,336 shares of the utilities provider’s stock after selling 9,351 shares during the quarter. California State Teachers Retirement System owned about 0.20% of Edison International worth $50,068,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Edison International by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,363,702 shares of the utilities provider’s stock valued at $2,139,568,000 after purchasing an additional 487,713 shares during the last quarter. BlackRock Inc. grew its position in shares of Edison International by 1.1% in the second quarter. BlackRock Inc. now owns 24,659,823 shares of the utilities provider’s stock valued at $1,928,152,000 after purchasing an additional 270,625 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Edison International by 3.6% in the second quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after purchasing an additional 526,261 shares during the last quarter. Boston Partners grew its position in shares of Edison International by 4.2% in the second quarter. Boston Partners now owns 3,736,312 shares of the utilities provider’s stock valued at $292,142,000 after purchasing an additional 151,153 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Edison International by 9.0% in the first quarter. Geode Capital Management LLC now owns 3,180,637 shares of the utilities provider’s stock valued at $252,849,000 after purchasing an additional 262,165 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.85. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue was up 6.8% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.5425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.77%. Edison International’s payout ratio is presently 50.82%.
Several equities research analysts have recently issued reports on the company. BidaskClub raised Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Citigroup Inc. reaffirmed a “neutral” rating and issued a $84.00 price target (down from $85.00) on shares of Edison International in a research report on Monday, July 24th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Edison International in a research report on Friday, July 14th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $84.00 price target on shares of Edison International in a research report on Sunday, September 17th. Finally, Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Thursday, July 6th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $84.75.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the transaction, the insider now owns 14,121 shares in the company, valued at approximately $1,137,305.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.
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.
Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX).
What are top analysts saying about Edison International? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Edison International and related companies.