Reilly Financial Advisors LLC lowered its stake in shares of Edison International (NYSE:EIX) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,284 shares of the utilities provider’s stock after selling 330 shares during the period. Reilly Financial Advisors LLC’s holdings in Edison International were worth $491,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of Edison International by 3.3% in the first quarter. Bank of Montreal Can now owns 544,727 shares of the utilities provider’s stock valued at $43,367,000 after buying an additional 17,237 shares in the last quarter. National Pension Service boosted its stake in shares of Edison International by 2.8% in the first quarter. National Pension Service now owns 260,601 shares of the utilities provider’s stock valued at $20,715,000 after buying an additional 7,055 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Edison International by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 101,077 shares of the utilities provider’s stock valued at $8,046,000 after buying an additional 1,250 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Edison International by 5.7% in the first quarter. Raymond James Trust N.A. now owns 4,907 shares of the utilities provider’s stock valued at $390,000 after buying an additional 263 shares in the last quarter. Finally, Hefty Wealth Partners acquired a new stake in shares of Edison International during the first quarter valued at approximately $1,050,000. 81.73% of the stock is owned by institutional investors.
Edison International (EIX) traded down 0.75% on Tuesday, hitting $79.92. 3,617,038 shares of the stock were exchanged. The firm has a market cap of $26.04 billion, a PE ratio of 18.90 and a beta of 0.22. The company has a 50-day moving average price of $78.38 and a 200-day moving average price of $78.88. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82.
Edison International (NYSE:EIX) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. On average, equities research analysts anticipate that Edison International will post $4.24 EPS for the current fiscal year.
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A number of research analysts recently issued reports on EIX shares. Mizuho reissued a “buy” rating and issued a $91.50 price objective on shares of Edison International in a research report on Wednesday, April 19th. Zacks Investment Research lowered shares of Edison International from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. BMO Capital Markets reissued an “outperform” rating and issued a $85.00 price objective (up previously from $82.00) on shares of Edison International in a research report on Wednesday, May 3rd. Wolfe Research lowered shares of Edison International from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Edison International in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Edison International presently has a consensus rating of “Hold” and a consensus target price of $84.35.
In related news, insider Gaddi H. Vasquez sold 2,500 shares of the stock in a transaction dated Thursday, June 8th. The stock was 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 in the company, valued at $369,915. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.
Edison International Company 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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