Maryland State Retirement & Pension System Sells 8,118 Shares of Edison International (NYSE:EIX)

Maryland State Retirement & Pension System trimmed its holdings in Edison International (NYSE:EIX - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,660 shares of the utilities provider's stock after selling 8,118 shares during the period. Maryland State Retirement & Pension System owned 0.09% of Edison International worth $27,118,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its position in shares of Edison International by 0.7% in the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider's stock valued at $2,834,774,000 after buying an additional 224,337 shares in the last quarter. FMR LLC raised its position in shares of Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider's stock valued at $1,898,638,000 after buying an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Edison International by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider's stock valued at $835,142,000 after buying an additional 210,461 shares in the last quarter. Amundi raised its position in shares of Edison International by 0.3% in the fourth quarter. Amundi now owns 3,118,404 shares of the utilities provider's stock valued at $248,973,000 after buying an additional 10,396 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Edison International by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider's stock valued at $209,191,000 after buying an additional 32,391 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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Edison International Price Performance

Shares of NYSE:EIX traded down $0.60 during trading on Friday, hitting $58.32. 11,828,288 shares of the company were exchanged, compared to its average volume of 2,664,616. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The company has a market capitalization of $22.45 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The business's 50 day moving average is $55.24 and its 200-day moving average is $73.51.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Equities analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.68%. Edison International's dividend payout ratio is 100.30%.

Analysts Set New Price Targets

Several brokerages have commented on EIX. LADENBURG THALM/SH SH upgraded shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. Guggenheim downgraded shares of Edison International from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. UBS Group upgraded shares of Edison International from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Wells Fargo & Company lowered their price objective on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Finally, The Goldman Sachs Group lowered their price objective on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Edison International currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.82.

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.