NBC Securities Inc. Reduces Position in Edison International (NYSE:EIX)

NBC Securities Inc. lowered its position in Edison International (NYSE:EIX) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in Edison International by 23.0% in the fourth quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock valued at $1,429,769,000 after purchasing an additional 3,734,550 shares during the period. Deutsche Bank AG raised its holdings in Edison International by 266.3% during the third quarter. Deutsche Bank AG now owns 4,309,133 shares of the utilities provider’s stock worth $272,725,000 after purchasing an additional 3,132,877 shares in the last quarter. Norges Bank purchased a new stake in Edison International in the 4th quarter valued at approximately $210,327,000. Morningstar Investment Services LLC increased its position in shares of Edison International by 98.1% in the fourth quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock valued at $96,492,000 after buying an additional 667,273 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Edison International by 62.1% during the 4th quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider’s stock worth $108,236,000 after buying an additional 580,117 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EIX. Morgan Stanley raised their target price on shares of Edison International from $58.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th. The Goldman Sachs Group initiated coverage on Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective for the company. Royal Bank of Canada dropped their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Finally, TheStreet cut Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $77.70.

Insiders Place Their Bets

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

Edison International Trading Down 0.1 %

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

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. 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 prior year, the company earned $1.09 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. Equities research analysts forecast that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Company Profile

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.