Transamerica Financial Advisors Lowers stake in Edison International (EIX)

Edison International (EIX) : Transamerica Financial Advisors reduced its stake in Edison International by 0.66% during the most recent quarter end. The investment management company now holds a total of 71,431 shares of Edison International which is valued at $5,417,327 after selling 476 shares in Edison International , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Edison International makes up approximately 0.54% of Transamerica Financial Advisors’s portfolio.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in EIX in the latest quarter, The investment management firm added 43,421 additional shares and now holds a total of 2,727,366 shares of Edison International which is valued at $206,843,437. Edison International makes up approx 0.11% of Geode Capital Management’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. Pacad Investment Ltd. added EIX to its portfolio by purchasing 1,400 company shares during the most recent quarter which is valued at $106,176. Edison International makes up approx 0.01% of Pacad Investment Ltd.’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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