Kentucky Retirement Systems Insurance Trust Fund Sells 476 Shares of Edison International (NYSE:EIX)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of Edison International (NYSE:EIX) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,062 shares of the utilities provider’s stock after selling 476 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Edison International were worth $652,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Whittier Trust Co. grew its position in Edison International by 4.9% in the 4th quarter. Whittier Trust Co. now owns 4,295 shares of the utilities provider’s stock worth $343,000 after purchasing an additional 200 shares during the period. FSB Premier Wealth Management Inc. grew its position in Edison International by 5.2% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 4,403 shares of the utilities provider’s stock worth $352,000 after purchasing an additional 217 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in Edison International by 0.4% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,673 shares of the utilities provider’s stock worth $4,365,000 after purchasing an additional 218 shares during the period. KWB Wealth grew its position in Edison International by 1.5% in the 1st quarter. KWB Wealth now owns 14,751 shares of the utilities provider’s stock worth $869,000 after purchasing an additional 218 shares during the period. Finally, SRS Capital Advisors Inc. grew its position in Edison International by 27.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,115 shares of the utilities provider’s stock worth $89,000 after purchasing an additional 243 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 2.5%

EIX opened at $51.43 on Wednesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.89 and a current ratio of 0.96. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.77. The firm’s fifty day moving average is $54.79 and its 200 day moving average is $59.34. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 7.29, a price-to-earnings-growth ratio of 1.17 and a beta of 0.78.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the previous year, the company earned $1.13 EPS. Edison International’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, sell-side analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

EIX has been the subject of a number of research analyst reports. Wolfe Research downgraded shares of Edison International from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. Mizuho cut their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group cut their target price 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. Morgan Stanley cut their target price on shares of Edison International from $52.00 to $51.00 and set an “underweight” rating for the company in a research report on Wednesday, June 18th. Finally, Evercore ISI reissued an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $76.82.

Edison International 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.