NBC Securities Inc. Sells 775 Shares of Edison International (NYSE:EIX)

NBC Securities Inc. cut its stake in Edison International (NYSE:EIXFree Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,089 shares of the utilities provider’s stock after selling 775 shares during the quarter. NBC Securities Inc.’s holdings in Edison International were worth $3,147,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Axxcess Wealth Management LLC grew its position in Edison International by 2.6% in the third quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock valued at $409,000 after purchasing an additional 164 shares in the last quarter. Gibraltar Capital Management Inc. grew its stake in Edison International by 1.5% in the fourth quarter. Gibraltar Capital Management Inc. now owns 11,599 shares of the utilities provider’s stock valued at $829,000 after purchasing an additional 174 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Edison International by 0.3% during the 4th quarter. Corient Private Wealth LLC now owns 61,247 shares of the utilities provider’s stock worth $4,379,000 after purchasing an additional 175 shares during the last quarter. Presima Securities ULC raised its stake in shares of Edison International by 2.4% during the 4th quarter. Presima Securities ULC now owns 8,650 shares of the utilities provider’s stock worth $618,000 after purchasing an additional 200 shares in the last quarter. Finally, ERTS Wealth Advisors LLC boosted its holdings in shares of Edison International by 5.4% in the 4th quarter. ERTS Wealth Advisors LLC now owns 4,023 shares of the utilities provider’s stock valued at $288,000 after buying an additional 207 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Price Performance

Shares of NYSE EIX traded down $0.05 during midday trading on Wednesday, reaching $71.48. The company’s stock had a trading volume of 1,365,730 shares, compared to its average volume of 1,766,179. The company has a market cap of $27.50 billion, a P/E ratio of 31.31 and a beta of 0.95. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $77.04. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00. The business’s 50 day moving average price is $72.89 and its two-hundred day moving average price is $70.23.

Edison International (NYSE:EIXGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the previous year, the firm earned $1.09 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that Edison International will post 4.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO J Andrew Murphy sold 9,794 shares of Edison International stock in a transaction on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,475,876.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO J Andrew Murphy sold 9,794 shares of Edison International stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Caroline Choi sold 10,004 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,897 shares of company stock worth $5,851,245. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EIX. Argus upped their price target on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. TheStreet downgraded shares of Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Royal Bank of Canada reduced their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Mizuho raised their price objective on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Barclays boosted their target price on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Edison International has a consensus rating of “Hold” and an average price target of $77.70.

View Our Latest Research Report on EIX

Edison International Company Profile

(Free Report)

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.

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

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