Janney Montgomery Scott LLC decreased its stake in shares of Edison International (NYSE:EIX) by 9.6% during the second quarter, Holdings Channel reports. The fund owned 9,564 shares of the utilities provider’s stock after selling 1,012 shares during the period. Janney Montgomery Scott LLC’s holdings in Edison International were worth $748,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EIX. Harbour Capital Advisors LLC raised its stake in Edison International by 8,018.4% in the second quarter. Harbour Capital Advisors LLC now owns 530,050 shares of the utilities provider’s stock valued at $6,779,000 after buying an additional 523,521 shares during the last quarter. IBM Retirement Fund raised its stake in Edison International by 120.9% in the second quarter. IBM Retirement Fund now owns 7,785 shares of the utilities provider’s stock valued at $680,000 after buying an additional 4,261 shares during the last quarter. NGAM Advisors L.P. raised its stake in Edison International by 4.3% in the second quarter. NGAM Advisors L.P. now owns 35,633 shares of the utilities provider’s stock valued at $2,786,000 after buying an additional 1,457 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Edison International by 5.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 25,170 shares of the utilities provider’s stock valued at $1,968,000 after buying an additional 1,270 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its stake in Edison International by 0.8% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 291,583 shares of the utilities provider’s stock valued at $22,799,000 after buying an additional 2,335 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

Shares of Edison International (NYSE:EIX) opened at 79.92 on Wednesday. Edison International has a 12-month low of $67.44 and a 12-month high of $82.82. The stock has a market capitalization of $26.04 billion, a price-to-earnings ratio of 18.90 and a beta of 0.22. The stock’s 50 day moving average is $78.38 and its 200-day moving average is $78.88.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS. On average, analysts expect that Edison International will post $4.24 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This report was published by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The original version of this report can be read at https://www.watchlistnews.com/janney-montgomery-scott-llc-has-748000-position-in-edison-international-eix/1493085.html.

Several research firms have issued reports on EIX. Jefferies Group LLC upgraded shares of Edison International from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $90.00 in a research report on Friday, August 11th. Morgan Stanley upped their price target on shares of Edison International from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. BidaskClub upgraded shares of Edison International from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. Citigroup Inc. restated a “neutral” rating and set a $84.00 price target (down from $85.00) on shares of Edison International in a research report on Monday, July 24th. Finally, Zacks Investment Research lowered shares of Edison International from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $84.35.

In related news, Director W Brett White sold 2,500 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $81.67, for a total transaction of $204,175.00. Following the transaction, the director now directly owns 2,500 shares in the company, valued at approximately $204,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

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.

Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX).

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

Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with Analyst Ratings Network's FREE daily email newsletter.