Edison International (NYSE:EIX) Shares Bought by Candriam Luxembourg S.C.A.

Candriam Luxembourg S.C.A. raised its position in shares of Edison International (NYSE:EIX) by 46.4% during the second quarter, Holdings Channel reports. The institutional investor owned 125,449 shares of the utilities provider’s stock after buying an additional 39,766 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Edison International were worth $9,809,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America boosted its position in Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock worth $100,000 after buying an additional 8 shares in the last quarter. Jones Collombin Investment Counsel Inc boosted its position in Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock worth $139,000 after buying an additional 715 shares in the last quarter. Parallel Advisors LLC boosted its position in Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock worth $198,000 after buying an additional 741 shares in the last quarter. Wayne Hummer Investments L.L.C. acquired a new position in Edison International during the first quarter worth about $200,000. Finally, Gofen & Glossberg LLC IL acquired a new position in Edison International during the first quarter worth about $201,000. 81.76% of the stock is owned by institutional investors and hedge funds.

Shares of Edison International (NYSE EIX) opened at 79.29 on Friday. The company has a market capitalization of $25.83 billion, a PE ratio of 18.75 and a beta of 0.22. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82. The stock has a 50 day moving average price of $78.84 and a 200-day moving average price of $78.37.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the company earned $0.85 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts expect that Edison International will post $4.24 EPS for the current year.

A number of research firms recently issued reports on EIX. Citigroup Inc. reaffirmed a “neutral” rating and issued a $84.00 price target (down from $85.00) on shares of Edison International in a report on Monday, July 24th. Barclays PLC reissued an “equal weight” rating and set a $84.00 price objective (up from $78.00) on shares of Edison International in a report on Sunday, April 23rd. UBS AG cut Edison International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $82.00 to $80.00 in a report on Wednesday, May 17th. Jefferies Group LLC reissued a “hold” rating on shares of Edison International in a report on Friday, July 14th. Finally, Wolfe Research cut Edison International from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $83.46.

In other news, Director W Brett White sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $81.67, for a total transaction of $204,175.00. Following the completion of the transaction, the director now directly owns 2,500 shares in the company, valued at $204,175. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ronald L. Litzinger sold 26,035 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $78.85, for a total value of $2,052,859.75. The disclosure for this sale can be found here. Insiders have sold 31,035 shares of company stock valued at $2,460,285 over the last 90 days. 0.41% of the stock is owned by corporate insiders.

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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