Commonwealth Equity Services Inc Purchases 1,858 Shares of Edison International (NYSE:EIX)

Commonwealth Equity Services Inc increased its position in shares of Edison International (NYSE:EIX) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,358 shares of the utilities provider’s stock after purchasing an additional 1,858 shares during the period. Commonwealth Equity Services Inc’s holdings in Edison International were worth $3,345,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Edison International by 1.8% during the second quarter. Vanguard Group Inc. now owns 27,363,702 shares of the utilities provider’s stock valued at $2,139,568,000 after acquiring an additional 487,713 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Edison International by 1.1% in the second quarter. BlackRock Inc. now owns 24,659,823 shares of the utilities provider’s stock valued at $1,928,152,000 after purchasing an additional 270,625 shares during the period. JPMorgan Chase & Co. boosted its stake 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. Boston Partners boosted its stake in shares of Edison International by 4.2% in the second quarter. Boston Partners now owns 3,736,312 shares of the utilities provider’s stock valued at $292,142,000 after purchasing an additional 151,153 shares during the period. Finally, FIL Ltd boosted its stake in shares of Edison International by 12.1% in the second quarter. FIL Ltd now owns 2,789,016 shares of the utilities provider’s stock valued at $218,073,000 after purchasing an additional 301,131 shares during the period. Hedge funds and other institutional investors own 81.36% of the company’s stock.

In related news, insider Ronald L. Litzinger sold 224,718 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total value of $18,426,876.00. Following the sale, the insider now directly owns 14,121 shares in the company, valued at approximately $1,157,922. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by insiders.

Shares of Edison International (NYSE EIX) traded down $1.28 on Wednesday, reaching $68.72. 10,027,098 shares of the company’s stock traded hands, compared to its average volume of 1,776,026. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. Edison International has a 12 month low of $67.80 and a 12 month high of $83.38. The firm has a market cap of $26,149.61, a PE ratio of 18.28, a P/E/G ratio of 2.91 and a beta of 0.23.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.10. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same period in the prior year, the company posted $1.29 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. sell-side analysts anticipate that Edison International will post 4.33 EPS for the current fiscal year.

A number of research analysts recently issued reports on EIX shares. SunTrust Banks reiterated a “buy” rating and issued a $89.00 price target on shares of Edison International in a research note on Monday, October 30th. Bank of America reiterated a “buy” rating and issued a $86.00 price target on shares of Edison International in a research note on Tuesday, October 24th. Mizuho reiterated a “buy” rating and issued a $87.00 price target (up previously from $84.00) on shares of Edison International in a research note on Wednesday, August 23rd. BMO Capital Markets restated a “buy” rating and set a $85.00 price objective on shares of Edison International in a research report on Thursday, August 17th. Finally, Jefferies Group restated a “buy” rating on shares of Edison International in a research report on Thursday, August 17th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Edison International presently has a consensus rating of “Hold” and a consensus target price of $84.85.

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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.

Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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