New York State Common Retirement Fund Sells 18,200 Shares of Edison International $EIX

New York State Common Retirement Fund lessened its holdings in Edison International (NYSE:EIX) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 216,921 shares of the utilities provider’s stock after selling 18,200 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Edison International worth $11,991,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Edison International by 169.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 124,843 shares of the utilities provider’s stock valued at $6,901,000 after acquiring an additional 78,531 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Edison International by 7.3% during the third quarter. Bank of New York Mellon Corp now owns 3,047,712 shares of the utilities provider’s stock worth $168,478,000 after purchasing an additional 207,748 shares during the period. Ballentine Partners LLC boosted its holdings in Edison International by 8.5% during the third quarter. Ballentine Partners LLC now owns 6,097 shares of the utilities provider’s stock valued at $337,000 after purchasing an additional 479 shares in the last quarter. Stablepoint Partners LLC grew its stake in shares of Edison International by 17.4% in the 3rd quarter. Stablepoint Partners LLC now owns 86,174 shares of the utilities provider’s stock valued at $4,764,000 after purchasing an additional 12,755 shares during the period. Finally, Stonegate Investment Group LLC acquired a new position in shares of Edison International in the 3rd quarter worth approximately $286,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Down 2.5%

Shares of NYSE:EIX opened at $60.69 on Tuesday. The company has a 50 day moving average price of $59.83 and a two-hundred day moving average price of $56.96. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. The company has a market capitalization of $23.35 billion, a PE ratio of 7.93, a PEG ratio of 0.91 and a beta of 0.82. Edison International has a 52 week low of $47.73 and a 52 week high of $63.19.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were issued a dividend of $0.8775 per share. This is a boost from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 annualized dividend and a yield of 5.8%. The ex-dividend date was Wednesday, January 7th. Edison International’s dividend payout ratio is presently 45.88%.

Analyst Ratings Changes

Several research firms recently commented on EIX. Zacks Research downgraded Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. LADENBURG THALM/SH SH boosted their target price on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research report on Thursday, January 15th. Finally, Morgan Stanley reissued an “underweight” rating on shares of Edison International in a report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $63.30.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.