American Century Companies Inc Lowers stake in Edison International (EIX)

Edison International (EIX) : American Century Companies Inc reduced its stake in Edison International by 2.29% during the most recent quarter end. The investment management company now holds a total of 5,930,785 shares of Edison International which is valued at $450,858,276 after selling 139,114 shares in Edison International , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Edison International makes up approximately 0.50% of American Century Companies Inc’s portfolio.

Other Hedge Funds, Including , Rs Investment Management Co boosted its stake in EIX in the latest quarter, The investment management firm added 2,730 additional shares and now holds a total of 337,250 shares of Edison International which is valued at $25,637,745. Edison International makes up approx 0.25% of Rs Investment Management Co’s portfolio.New York State Teachers Retirement System reduced its stake in EIX by selling 200 shares or 0.03% in the most recent quarter. The Hedge Fund company now holds 602,019 shares of EIX which is valued at $46,740,755. Edison International makes up approx 0.12% of New York State Teachers Retirement System’s portfolio.Nordea Investment Management Ab boosted its stake in EIX in the latest quarter, The investment management firm added 94,389 additional shares and now holds a total of 443,220 shares of Edison International which is valued at $33,910,762. Edison International makes up approx 0.10% of Nordea Investment Management Ab’s portfolio.Nexus Investment Management boosted its stake in EIX in the latest quarter, The investment management firm added 2,800 additional shares and now holds a total of 8,200 shares of Edison International which is valued at $640,994. Edison International makes up approx 0.12% of Nexus Investment Management’s portfolio.

Edison International opened for trading at $76.37 and hit $77.63 on the upside on Friday, eventually ending the session at $77.38, with a gain of 1.22% or 0.93 points. The heightened volatility saw the trading volume jump to 16,14,496 shares. Company has a market cap of $25,211 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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