New Mexico Educational Retirement Board cut its position in Edison International (NYSE:EIX) by 8.2% during the second quarter, Holdings Channel reports. The firm owned 30,302 shares of the utilities provider’s stock after selling 2,700 shares during the period. New Mexico Educational Retirement Board’s holdings in Edison International were worth $2,384,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Global X Management Co. LLC increased its position in Edison International by 23.9% in the second quarter. Global X Management Co. LLC now owns 9,317 shares of the utilities provider’s stock worth $728,000 after buying an additional 1,796 shares during the period. HL Financial Services LLC increased its position in Edison International by 2.7% in the second quarter. HL Financial Services LLC now owns 2,681 shares of the utilities provider’s stock worth $210,000 after buying an additional 70 shares during the period. Advisor Partners LLC increased its position in Edison International by 42.5% in the second quarter. Advisor Partners LLC now owns 10,071 shares of the utilities provider’s stock worth $787,000 after buying an additional 3,002 shares during the period. Pictet Asset Management Ltd. increased its position in Edison International by 4.1% in the second quarter. Pictet Asset Management Ltd. now owns 2,097,091 shares of the utilities provider’s stock worth $171,060,000 after buying an additional 82,914 shares during the period. Finally, Korea Investment CORP increased its position in Edison International by 37.2% in the second quarter. Korea Investment CORP now owns 258,324 shares of the utilities provider’s stock worth $20,198,000 after buying an additional 69,974 shares during the period. Institutional investors and hedge funds own 81.85% of the company’s stock.

Edison International (NYSE EIX) opened at 79.45 on Thursday. The firm has a 50-day moving average of $78.48 and a 200-day moving average of $78.60. The company has a market cap of $25.89 billion, a PE ratio of 18.79 and a beta of 0.22. Edison International has a one year low of $67.44 and a one year high of $82.82.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.85. The business had revenue of $2.97 billion for 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 firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, analysts predict that Edison International will post $4.24 EPS for the current year.

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A number of equities analysts recently commented on the company. BidaskClub upgraded Edison International from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. Jefferies Group LLC reiterated a “hold” rating and issued a $85.00 price target on shares of Edison International in a research note on Sunday, July 30th. Citigroup Inc. reiterated a “neutral” rating and issued a $84.00 price target (down from $85.00) on shares of Edison International in a research note on Monday, July 24th. Morgan Stanley reiterated an “equal weight” rating on shares of Edison International in a research note on Tuesday, July 11th. Finally, Zacks Investment Research downgraded Edison International from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Edison International has an average rating of “Hold” and a consensus target price of $83.46.

In related news, insider Ronald L. Litzinger sold 26,035 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $78.85, for a total value of $2,052,859.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gaddi H. Vasquez sold 2,500 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $81.30, for a total transaction of $203,250.00. Following the completion of the sale, the insider now directly owns 4,550 shares in the company, valued at approximately $369,915. The disclosure for this sale can be found here. In the last three months, insiders sold 31,035 shares of company stock worth $2,460,285. 0.41% of the stock is currently owned by insiders.

Edison International Company Profile

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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