Castleton Investment Management LLC bought a new stake in shares of Edison International (NYSE:EIX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 161,437 shares of the utilities provider’s stock, valued at approximately $12,458,000. Edison International accounts for 4.6% of Castleton Investment Management LLC’s holdings, making the stock its 7th largest holding.
Other large investors have also made changes to their positions in the company. USS Investment Management Ltd purchased a new stake in shares of Edison International in the third quarter valued at approximately $137,776,000. Janus Henderson Group PLC boosted its holdings in shares of Edison International by 2,522.5% in the second quarter. Janus Henderson Group PLC now owns 1,234,840 shares of the utilities provider’s stock valued at $96,552,000 after purchasing an additional 1,187,754 shares during the period. BT Investment Management Ltd purchased a new stake in shares of Edison International in the second quarter valued at approximately $55,640,000. Wells Fargo & Company MN boosted its holdings in shares of Edison International by 30.3% in the third quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock valued at $198,553,000 after purchasing an additional 598,402 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Edison International by 3.6% in the second quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after purchasing an additional 526,261 shares during the period. Institutional investors and hedge funds own 81.36% of the company’s stock.
A number of analysts recently issued reports on EIX shares. Morgan Stanley boosted their price target on Edison International from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Jefferies Group upgraded Edison International from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $90.00 in a report on Friday, August 11th. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price target on shares of Edison International in a report on Thursday, August 17th. BidaskClub upgraded Edison International from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, Mizuho restated a “buy” rating and set a $87.00 target price (up previously from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $84.85.
Edison International (NYSE:EIX) last posted its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. Edison International’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.29 earnings per share. research analysts anticipate that Edison International will post 4.33 earnings per share for the current year.
In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the completion of the sale, the insider now owns 14,121 shares in the company, valued at $1,157,922. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.41% of the stock is owned by corporate insiders.
Edison International Profile
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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