Envestnet Portfolio Solutions Inc. Cuts Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Envestnet Portfolio Solutions Inc. cut its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 71.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,740 shares of the real estate investment trust's stock after selling 41,713 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Crown Castle were worth $1,745,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. grew its stake in Crown Castle by 25.8% during the first quarter. Global X Japan Co. Ltd. now owns 1,291 shares of the real estate investment trust's stock worth $135,000 after buying an additional 265 shares in the last quarter. Premier Path Wealth Partners LLC grew its stake in Crown Castle by 13.8% during the first quarter. Premier Path Wealth Partners LLC now owns 3,266 shares of the real estate investment trust's stock worth $340,000 after buying an additional 397 shares in the last quarter. Johnson Investment Counsel Inc. grew its stake in Crown Castle by 5.2% during the first quarter. Johnson Investment Counsel Inc. now owns 3,907 shares of the real estate investment trust's stock worth $407,000 after buying an additional 194 shares in the last quarter. Beacon Capital Management LLC grew its stake in Crown Castle by 36.6% during the first quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock worth $47,000 after buying an additional 120 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Crown Castle by 1.7% in the 1st quarter. State of Alaska Department of Revenue now owns 264,082 shares of the real estate investment trust's stock valued at $27,523,000 after purchasing an additional 4,408 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Trading Up 0.7%

Shares of NYSE:CCI traded up $0.69 during mid-day trading on Tuesday, hitting $103.22. The company had a trading volume of 4,677,817 shares, compared to its average volume of 2,940,356. The firm has a fifty day moving average price of $101.49 and a 200 day moving average price of $96.66. The company has a market capitalization of $44.95 billion, a PE ratio of -9.59, a price-to-earnings-growth ratio of 0.79 and a beta of 0.88. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.37 and a quick ratio of 0.37. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.62). The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative net margin of 78.12% and a negative return on equity of 164.40%. The business's revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 EPS. As a group, research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Friday, June 13th. Crown Castle's payout ratio is currently -39.50%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CCI. JMP Securities raised their price target on shares of Crown Castle from $115.00 to $125.00 and gave the company a "market outperform" rating in a research note on Thursday, May 1st. Scotiabank raised their price target on shares of Crown Castle from $99.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of Crown Castle from $121.00 to $115.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Wells Fargo & Company upgraded shares of Crown Castle from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $85.00 to $105.00 in a research note on Monday, March 17th. Finally, KeyCorp raised their price target on shares of Crown Castle from $120.00 to $122.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $112.71.

Insider Activity at Crown Castle

In related news, CEO Daniel K. Schlanger sold 20,000 shares of Crown Castle stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.38, for a total value of $2,127,600.00. Following the completion of the sale, the chief executive officer now owns 110,571 shares of the company's stock, valued at approximately $11,762,542.98. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert Sean Collins sold 3,600 shares of Crown Castle stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.72, for a total transaction of $384,192.00. Following the completion of the sale, the vice president now directly owns 6,465 shares of the company's stock, valued at approximately $689,944.80. The trade was a 35.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,600 shares of company stock valued at $3,362,752. 0.10% of the stock is owned by company insiders.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.