Cohen Capital Management Inc. Has $2,167,000 Position in Edison International (EIX)
Cohen Capital Management Inc. held its stake in Edison International (NYSE:EIX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the company’s stock at the end of the third quarter. Cohen Capital Management Inc.’s holdings in Edison International were worth $2,167,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of EIX. Legacy Private Trust Co. purchased a new stake in Edison International during the second quarter valued at $3,431,000. NN Investment Partners Holdings N.V. raised its stake in Edison International by 32.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 155,363 shares of the company’s stock valued at $12,067,000 after buying an additional 38,343 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Edison International by 0.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,898 shares of the company’s stock valued at $225,000 after buying an additional 16 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in Edison International by 1.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 280,328 shares of the company’s stock worth $21,773,000 after buying an additional 3,429 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its stake in Edison International by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 84,336 shares of the company’s stock worth $6,550,000 after buying an additional 5,009 shares during the last quarter. 80.42% of the stock is currently owned by institutional investors.
Edison International (NYSE:EIX) traded up 2.16% during trading on Monday, hitting $71.27. The stock had a trading volume of 1,873,439 shares. The firm’s 50 day moving average is $70.57 and its 200 day moving average is $73.14. Edison International has a 1-year low of $57.85 and a 1-year high of $78.72. The firm has a market cap of $23.22 billion, a price-to-earnings ratio of 26.43 and a beta of 0.17.
Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.06. Edison International had a return on equity of 9.59% and a net margin of 8.80%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the previous year, the business earned $1.16 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts anticipate that Edison International will post $3.91 earnings per share for the current year.
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A number of analysts recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $82.00 price objective (up previously from $79.00) on shares of Edison International in a research note on Monday, August 1st. Deutsche Bank AG set a $78.00 price objective on Edison International and gave the company a “hold” rating in a research note on Sunday, September 4th. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Tuesday, September 27th. Argus decreased their price objective on Edison International from $86.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, October 4th. Finally, SunTrust Banks Inc. increased their price objective on Edison International from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, September 26th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.79.
In other news, insider Ronald L. Litzinger sold 38,084 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $72.10, for a total transaction of $2,745,856.40. Following the sale, the insider now directly owns 12,053 shares of the company’s stock, valued at $869,021.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jagjeet S. Bindra sold 3,995 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $73.80, for a total value of $294,831.00. The disclosure for this sale can be found here. Insiders own 1.51% of the company’s stock.
Edison International Company Profile
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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