Icahn Enterprises L.P. $IEP Stock Position Boosted by Icahn Carl C

Key Points

• Carl C. Icahn boosted his stake in Icahn Enterprises by 4.9% in Q3, buying 24,149,325 shares to hold 518,932,944 shares valued at about $4.37 billion, with the stock making up roughly 47.8% of his portfolio.
• Icahn Enterprises reported $0.00 EPS (missing estimates), has negative net margin and ROE, and analysts project -0.55 EPS for the year; the stock pays a 26.1% dividend yield ($0.50 quarterly) despite a negative payout ratio and carries a consensus "Reduce" rating.

Icahn Carl C boosted its position in Icahn Enterprises L.P. (NASDAQ:IEP - Free Report) by 4.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 518,932,944 shares of the conglomerate's stock after purchasing an additional 24,149,325 shares during the quarter. Icahn Enterprises makes up approximately 47.8% of Icahn Carl C's investment portfolio, making the stock its largest holding. Icahn Carl C owned about 86.46% of Icahn Enterprises worth $4,369,415,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP increased its position in shares of Icahn Enterprises by 408.6% during the second quarter. Allworth Financial LP now owns 5,269 shares of the conglomerate's stock worth $42,000 after purchasing an additional 4,233 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Icahn Enterprises by 8.3% in the second quarter. PNC Financial Services Group Inc. now owns 30,678 shares of the conglomerate's stock valued at $247,000 after buying an additional 2,350 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in Icahn Enterprises by 12.8% in the second quarter. Meridian Wealth Management LLC now owns 23,888 shares of the conglomerate's stock worth $192,000 after acquiring an additional 2,717 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Icahn Enterprises by 7.9% during the second quarter. SG Americas Securities LLC now owns 28,334 shares of the conglomerate's stock worth $228,000 after acquiring an additional 2,077 shares during the last quarter. Finally, United Advisor Group LLC raised its position in shares of Icahn Enterprises by 5.2% in the 2nd quarter. United Advisor Group LLC now owns 29,849 shares of the conglomerate's stock valued at $240,000 after purchasing an additional 1,483 shares during the last quarter. 87.09% of the stock is owned by hedge funds and other institutional investors.

Icahn Enterprises Price Performance

Shares of NASDAQ IEP opened at $7.65 on Monday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 4.17 and a current ratio of 4.17. The firm has a fifty day moving average of $7.91 and a 200 day moving average of $8.04. The firm has a market cap of $4.87 billion, a PE ratio of -12.75 and a beta of 0.81. Icahn Enterprises L.P. has a one year low of $7.08 and a one year high of $9.99.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The conglomerate reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.17). Icahn Enterprises had a negative net margin of 2.98% and a negative return on equity of 8.22%. The company had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $2.46 billion. As a group, research analysts predict that Icahn Enterprises L.P. will post -0.55 EPS for the current fiscal year.

Icahn Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 9th will be issued a $0.50 dividend. The ex-dividend date is Monday, March 9th. This represents a $2.00 dividend on an annualized basis and a yield of 26.1%. Icahn Enterprises's dividend payout ratio (DPR) is presently -333.33%.

Analyst Ratings Changes

IEP has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Icahn Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Weiss Ratings restated a "sell (e+)" rating on shares of Icahn Enterprises in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce".

Icahn Enterprises Company Profile

Icahn Enterprises L.P. NASDAQ: IEP is a diversified holding company based in New York City. Controlled by veteran investor Carl C. Icahn, the partnership makes strategic investments and owns wholly or partially controlled subsidiaries across a broad range of industries. With a flexible capital structure, Icahn Enterprises seeks to generate long-term value through active ownership, asset optimization and operational improvements.

The company reports its activities through five principal business segments.

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