Northern Trust Corp Sells 205,103 Shares of Edison International (NYSE:EIX)

Northern Trust Corp decreased its holdings in shares of Edison International (NYSE:EIXFree Report) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,223,622 shares of the utilities provider’s stock after selling 205,103 shares during the period. Northern Trust Corp owned about 1.10% of Edison International worth $301,947,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIX. Capital Research Global Investors lifted its stake in Edison International by 23.0% during the fourth quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock worth $1,429,769,000 after purchasing an additional 3,734,550 shares during the period. Deutsche Bank AG lifted its stake 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 during the period. Norges Bank bought a new position in shares of Edison International in the fourth quarter valued at approximately $210,327,000. California Public Employees Retirement System raised its stake in shares of Edison International by 62.1% in the fourth quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider’s stock valued at $108,236,000 after acquiring an additional 580,117 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Edison International by 8.9% in the third quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock valued at $432,318,000 after acquiring an additional 558,351 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. TheStreet cut shares of Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. The Goldman Sachs Group assumed coverage on shares of Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price for the company. Morgan Stanley lifted their target price on shares of Edison International from $58.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, May 28th. Finally, Barclays lifted their target price on shares of Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $77.22.

Read Our Latest Stock Report on Edison International

Edison International Price Performance

EIX opened at $73.98 on Friday. The company has a fifty day moving average price of $72.53 and a two-hundred day moving average price of $69.88. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00. Edison International has a 52 week low of $58.82 and a 52 week high of $77.04. The firm has a market capitalization of $28.46 billion, a PE ratio of 32.45 and a beta of 0.95.

Edison International (NYSE:EIXGet Free Report) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS 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 analyst estimates of $4.16 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, analysts anticipate that Edison International will post 4.92 earnings per share for the current year.

Insider Activity

In other news, CEO J Andrew Murphy sold 58,099 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO J Andrew Murphy sold 58,099 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction 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 $2,039,576.86. The disclosure for this sale can be found here. Insiders sold 77,897 shares of company stock valued at $5,851,245 in the last quarter. Company insiders own 1.03% of the company’s stock.

Edison International 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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