Fox Run Management L.L.C. lowered its position in shares of Edison International (NYSE:EIX) by 11.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,500 shares of the utilities provider’s stock after selling 1,000 shares during the period. Fox Run Management L.L.C.’s holdings in Edison International were worth $586,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Edison International by 4.8% in the first quarter. Vanguard Group Inc. now owns 26,875,989 shares of the utilities provider’s stock worth $2,139,597,000 after buying an additional 1,239,752 shares during the last quarter. BlackRock Inc. raised its stake in Edison International by 2,416.6% in the first quarter. BlackRock Inc. now owns 24,389,198 shares of the utilities provider’s stock worth $1,941,622,000 after buying an additional 23,420,049 shares during the period. Macquarie Group Ltd. raised its stake in Edison International by 8.6% in the fourth quarter. Macquarie Group Ltd. now owns 11,222,827 shares of the utilities provider’s stock worth $807,931,000 after buying an additional 885,507 shares during the period. Alliancebernstein L.P. raised its stake in Edison International by 6.1% in the first quarter. Alliancebernstein L.P. now owns 5,733,802 shares of the utilities provider’s stock worth $456,468,000 after buying an additional 330,071 shares during the period. Finally, Geode Capital Management LLC raised its stake in 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 worth $252,849,000 after buying an additional 262,165 shares during the period. 81.85% of the stock is owned by institutional investors and hedge funds.
Edison International (NYSE EIX) traded up 0.44% on Tuesday, reaching $79.79. The company’s stock had a trading volume of 587,424 shares. The stock has a market capitalization of $26.00 billion, a P/E ratio of 18.87 and a beta of 0.22. The firm has a 50 day moving average price of $78.68 and a 200 day moving average price of $78.39. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the company earned $0.85 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities analysts anticipate that Edison International will post $4.24 EPS for the current year.
A number of equities research analysts have recently issued reports on the company. UBS AG lowered Edison International from a “buy” rating to a “neutral” rating and dropped their price target for the company from $82.00 to $80.00 in a research report on Wednesday, May 17th. BidaskClub upgraded Edison International from a “strong sell” rating to a “sell” rating in a research report on Friday. Citigroup Inc. restated 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 restated a “hold” rating and issued a $85.00 price target on shares of Edison International in a research report on Sunday, July 30th. Finally, Zacks Investment Research upgraded Edison International from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Edison International currently has a consensus rating of “Hold” and an average target price of $83.46.
In other news, Director W Brett White sold 2,500 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $81.67, for a total transaction of $204,175.00. Following the completion of the sale, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $204,175. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ronald L. Litzinger sold 26,035 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $78.85, for a total transaction of $2,052,859.75. The disclosure for this sale can be found here. Insiders have sold a total of 31,035 shares of company stock valued at $2,460,285 over the last three months. Corporate insiders own 0.41% of the company’s stock.
About Edison International
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.
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