Lord Abbett buys $186,583,388 stake in Edison International (EIX)

Edison International (EIX) : Lord Abbett scooped up 1,106,314 additional shares in Edison International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 2,460,224 shares of Edison International which is valued at $186,583,388.Edison International makes up approximately 0.58% of Lord Abbett’s portfolio.

Other Hedge Funds, Including , Ontario Teachers Pension Plan Board reduced its stake in EIX by selling 2,133 shares or 1.97% in the most recent quarter. The Hedge Fund company now holds 106,210 shares of EIX which is valued at $8,054,966. Edison International makes up approx 0.09% of Ontario Teachers Pension Plan Board’s portfolio.Bluemountain Capital Management boosted its stake in EIX in the latest quarter, The investment management firm added 18,578 additional shares and now holds a total of 21,482 shares of Edison International which is valued at $1,629,195. Edison International makes up approx 0.05% of Bluemountain Capital Management’s portfolio.Tiaa Cref Trust Co Fsbmo boosted its stake in EIX in the latest quarter, The investment management firm added 46 additional shares and now holds a total of 14,644 shares of Edison International which is valued at $1,136,960. Edison International makes up approx 0.01% of Tiaa Cref Trust Co Fsbmo’s portfolio.

Edison International opened for trading at $72.04 and hit $72.85 on the upside on Monday, eventually ending the session at $72.81, with a gain of 1.27% or 0.91 points. The heightened volatility saw the trading volume jump to 18,20,021 shares. Company has a market cap of $23,722 M.

On the company’s financial health, Edison International reported $0.85 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.97. The company had revenue of $2777.00 million for the quarter, compared to analysts expectations of $3158.65 million. The company’s revenue was down -4.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.16 EPS.

Edison International is the parent holding company of Southern California Edison Company (SCE) and subsidiaries. SCE is a public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50000 square mile area of southern California. Edison International is also the parent company of subsidiaries that are engaged in businesses related to the generation or use of electricity. Edison International’s other subsidiaries include Edison Mission Group Inc. and SoCore Energy LLC. Edison Mission Group Inc. is a wholly owned subsidiary of Edison International and the parent company of Edison Mission Energy and Edison Capital. SoCore Energy LLC a subsidiary engaged in distributed generation has constructed 26 Megawatt of rooftop solar systems in nine states selling power back to commercial customers under power purchase agreements.

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