KBC Group NV Grows Stake in Edison International (NYSE:EIX)

KBC Group NV boosted its position in Edison International (NYSE:EIXFree Report) by 46.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,239 shares of the utilities provider’s stock after purchasing an additional 65,354 shares during the period. KBC Group NV owned about 0.05% of Edison International worth $14,815,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Axxcess Wealth Management LLC increased its stake in Edison International by 2.6% in the 3rd 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. CarsonAllaria Wealth Management Ltd. increased its position in Edison International by 3.9% during the third quarter. CarsonAllaria Wealth Management Ltd. now owns 4,432 shares of the utilities provider’s stock worth $281,000 after buying an additional 165 shares in the last quarter. Gibraltar Capital Management Inc. increased its position in Edison International by 1.5% during the fourth quarter. Gibraltar Capital Management Inc. now owns 11,599 shares of the utilities provider’s stock worth $829,000 after buying an additional 174 shares in the last quarter. Corient Private Wealth LLC increased its position in Edison International by 0.3% during the fourth quarter. Corient Private Wealth LLC now owns 61,247 shares of the utilities provider’s stock worth $4,379,000 after buying an additional 175 shares in the last quarter. Finally, Greenleaf Trust increased its position in Edison International by 2.9% during the third quarter. Greenleaf Trust now owns 6,481 shares of the utilities provider’s stock worth $410,000 after buying an additional 185 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 9,794 shares of the business’s 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 transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,475,876.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EIX shares. Mizuho raised their price target on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. 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. The Goldman Sachs Group started coverage on Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target for the company. TheStreet cut Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Finally, Morgan Stanley raised their price objective on Edison International from $58.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $77.22.

Get Our Latest Research Report on EIX

Edison International Stock Down 0.6 %

Shares of EIX traded down $0.48 during midday trading on Tuesday, reaching $75.80. 192,679 shares of the company were exchanged, compared to its average volume of 2,106,239. The stock has a 50-day moving average price of $72.11 and a 200-day moving average price of $69.65. The company has a market cap of $29.16 billion, a price-to-earnings ratio of 33.46 and a beta of 0.95. Edison International has a 1-year low of $58.82 and a 1-year high of $77.04. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIXGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The company had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Research analysts expect that Edison International will post 4.92 earnings per share for the current year.

About Edison International

(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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