State of New Jersey Common Pension Fund D lowered its stake in Edison International (NYSE:EIX) by 18.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 135,000 shares of the utilities provider’s stock after selling 30,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Edison International were worth $10,556,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co increased its stake in Edison International by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,986 shares of the utilities provider’s stock valued at $237,000 after buying an additional 70 shares during the period. Raymond James Trust N.A. increased its stake in 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 during the period. Gulf International Bank UK Ltd increased its stake in 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 during the period. National Pension Service increased its stake in 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 during the period. Finally, Bank of Montreal Can increased its stake in 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 during the period. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Edison International (NYSE:EIX) opened at 79.45 on Thursday. The stock has a 50 day moving average of $78.48 and a 200 day moving average of $78.60. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82. The company has a market cap of $25.89 billion, a P/E ratio of 18.79 and a beta of 0.22.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS. On average, equities analysts anticipate that Edison International will post $4.24 earnings per share for the current fiscal year.

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Several equities research analysts recently issued reports on EIX shares. Mizuho reaffirmed a “buy” rating and set a $91.50 price target on shares of Edison International in a research note on Wednesday, April 19th. Barclays PLC reaffirmed an “equal weight” rating and set a $84.00 price target (up previously from $78.00) on shares of Edison International in a research note on Sunday, April 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $83.00 price target (up previously from $80.00) on shares of Edison International in a research note on Tuesday, May 2nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $85.00 price target (up previously from $82.00) on shares of Edison International in a research note on Wednesday, May 3rd. Finally, Wolfe Research downgraded shares of Edison International from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $83.46.

In related news, insider Ronald L. Litzinger sold 26,035 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $78.85, for a total transaction of $2,052,859.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W Brett White sold 2,500 shares of the 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 sale, the director now owns 2,500 shares of the company’s stock, valued at approximately $204,175. The disclosure for this sale can be found here. Insiders have sold a total of 31,035 shares of company stock valued at $2,460,285 in the last quarter. 0.41% of the stock is currently 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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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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