Canada Pension Plan Investment Board boosted its stake in shares of Edison International (NYSE:EIX) by 15.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 638,052 shares of the utilities provider’s stock after buying an additional 85,000 shares during the period. Canada Pension Plan Investment Board owned 0.20% of Edison International worth $49,889,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased 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 valued at $1,941,622,000 after buying an additional 23,420,049 shares in the last quarter. Vanguard Group Inc. increased its stake in Edison International by 4.8% in the first quarter. Vanguard Group Inc. now owns 26,875,989 shares of the utilities provider’s stock valued at $2,139,597,000 after buying an additional 1,239,752 shares in the last quarter. Brookfield Asset Management Inc. increased its stake in Edison International by 127.9% in the first quarter. Brookfield Asset Management Inc. now owns 1,989,977 shares of the utilities provider’s stock valued at $158,422,000 after buying an additional 1,116,880 shares in the last quarter. Renaissance Technologies LLC increased its stake in Edison International by 27.9% in the first quarter. Renaissance Technologies LLC now owns 2,991,000 shares of the utilities provider’s stock valued at $238,114,000 after buying an additional 653,100 shares in the last quarter. Finally, Morgan Stanley increased its stake in Edison International by 50.3% in the first quarter. Morgan Stanley now owns 1,803,598 shares of the utilities provider’s stock valued at $143,586,000 after buying an additional 603,880 shares in the last quarter. 81.85% of the stock is currently owned by hedge funds and other institutional investors.
Edison International (NYSE EIX) opened at 79.67 on Friday. The company’s 50-day moving average price is $78.42 and its 200-day moving average price is $78.60. Edison International has a 12-month low of $67.44 and a 12-month high of $82.82. The company has a market cap of $25.96 billion, a PE ratio of 18.84 and a beta of 0.22.
Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. Equities analysts anticipate that Edison International will post $4.24 earnings per share for the current year.
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EIX has been the subject of several analyst reports. Mizuho restated a “buy” rating and issued a $91.50 price objective on shares of Edison International in a report on Wednesday, April 19th. Zacks Investment Research cut Edison International from a “buy” rating to a “hold” rating in a report on Friday, July 7th. BMO Capital Markets restated an “outperform” rating and issued a $85.00 price objective (up previously from $82.00) on shares of Edison International in a report on Wednesday, May 3rd. Wolfe Research cut Edison International from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. Finally, Barclays PLC restated an “equal weight” rating and issued a $84.00 price objective (up previously from $78.00) on shares of Edison International in a report on Sunday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Edison International has a consensus rating of “Hold” and an average price target of $83.96.
In other Edison International news, insider Ronald L. Litzinger sold 26,035 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $78.85, for a total value of $2,052,859.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gaddi H. Vasquez sold 2,500 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $81.30, for a total transaction of $203,250.00. Following the completion of the sale, the insider now owns 4,550 shares of the company’s stock, valued at approximately $369,915. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,035 shares of company stock valued at $2,460,285. Company 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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