UBS Asset Management Americas Inc. Sells 48,215 Shares of Edison International (EIX)
UBS Asset Management Americas Inc. decreased its position in Edison International (NYSE:EIX) by 4.5% during the third quarter, Holdings Channel reports. The firm owned 1,019,315 shares of the company’s stock after selling 48,215 shares during the period. UBS Asset Management Americas Inc.’s holdings in Edison International were worth $73,646,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of EIX. Pacad Investment Ltd. bought a new stake in shares of Edison International during the second quarter worth $109,000. Pinkerton Retirement Specialists LLC bought a new stake in shares of Edison International during the second quarter worth $130,000. Cornerstone Advisors Inc. boosted its stake in shares of Edison International by 24.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,900 shares of the company’s stock worth $137,000 after buying an additional 374 shares during the period. Integrated Investment Consultants LLC boosted its stake in shares of Edison International by 9.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,001 shares of the company’s stock worth $155,000 after buying an additional 170 shares during the period. Finally, Washington Trust Bank boosted its stake in shares of Edison International by 0.9% in the third quarter. Washington Trust Bank now owns 2,777 shares of the company’s stock worth $201,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 80.42% of the company’s stock.
Edison International (NYSE:EIX) opened at 71.15 on Wednesday. The stock has a market capitalization of $23.18 billion, a PE ratio of 26.38 and a beta of 0.17. The stock has a 50 day moving average price of $70.57 and a 200 day moving average price of $73.14. Edison International has a 52 week low of $57.85 and a 52 week high of $78.72.
Edison International (NYSE:EIX) last released its earnings results on Tuesday, November 1st. The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.06. Edison International had a return on equity of 9.59% and a net margin of 8.80%. The firm earned $3.77 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the previous year, the firm posted $1.16 EPS. Edison International’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts forecast that Edison International will post $3.91 EPS for the current year.
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A number of brokerages recently weighed in on EIX. Deutsche Bank AG set a $78.00 price objective on Edison International and gave the stock a “hold” rating in a research note on Sunday, September 4th. Zacks Investment Research upgraded Edison International from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, September 27th. Argus decreased their price objective on Edison International from $86.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, October 4th. SunTrust Banks Inc. increased their price target on Edison International from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, September 26th. Finally, Citigroup Inc. decreased their price target on Edison International from $79.00 to $76.00 and set a “neutral” rating for the company in a research note on Tuesday, October 4th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $76.79.
In other news, Director Jagjeet S. Bindra sold 3,995 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $73.80, for a total transaction of $294,831.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ronald L. Litzinger sold 38,086 shares of the company’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $69.40, for a total value of $2,643,168.40. Following the transaction, the insider now directly owns 12,054 shares of the company’s stock, valued at $836,547.60. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.
About Edison International
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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