LPL Financial LLC Trims Stock Position in Icahn Enterprises L.P. $IEP

Key Points

• LPL Financial LLC has reduced its holdings in Icahn Enterprises L.P. by 19.4%, now owning 149,697 shares, valued at approximately $1.36 million.
• Icahn Enterprises recently reported a quarterly loss of ($0.30) EPS, falling short of the estimated $0.14 EPS and achieving revenue of $2.14 billion against expectations of $2.39 billion.
• The company announced a dividend of $0.50 per share, resulting in an annualized yield of 23.6%, despite a negative payout ratio of -162.60%.

LPL Financial LLC lessened its holdings in Icahn Enterprises L.P. (NASDAQ:IEP - Free Report) by 19.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,697 shares of the conglomerate's stock after selling 36,052 shares during the period. LPL Financial LLC's holdings in Icahn Enterprises were worth $1,356,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC purchased a new position in Icahn Enterprises in the 4th quarter valued at approximately $37,000. Spire Wealth Management boosted its position in Icahn Enterprises by 57.1% in the 1st quarter. Spire Wealth Management now owns 5,500 shares of the conglomerate's stock valued at $50,000 after buying an additional 2,000 shares during the period. BNP Paribas Financial Markets boosted its position in Icahn Enterprises by 40,056.0% in the 4th quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate's stock valued at $87,000 after buying an additional 10,014 shares during the period. WMG Financial Advisors LLC purchased a new position in Icahn Enterprises in the 1st quarter valued at approximately $95,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Icahn Enterprises in the 4th quarter valued at approximately $105,000. Hedge funds and other institutional investors own 87.09% of the company's stock.

Icahn Enterprises Stock Performance

IEP traded up $0.21 on Thursday, reaching $8.62. The company had a trading volume of 501,988 shares, compared to its average volume of 864,606. Icahn Enterprises L.P. has a 1 year low of $7.27 and a 1 year high of $15.65. The stock has a market capitalization of $4.94 billion, a PE ratio of -7.01 and a beta of 0.78. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 1.96. The stock has a 50-day moving average price of $8.86 and a 200-day moving average price of $8.95.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The conglomerate reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.44). The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.39 billion. Icahn Enterprises had a negative net margin of 6.78% and a negative return on equity of 15.65%. As a group, research analysts forecast that Icahn Enterprises L.P. will post -0.55 EPS for the current fiscal year.

Icahn Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Monday, August 18th will be paid a $0.50 dividend. The ex-dividend date is Monday, August 18th. This represents a $2.00 dividend on an annualized basis and a yield of 23.2%. Icahn Enterprises's payout ratio is currently -162.60%.

Analyst Ratings Changes

Several equities analysts have commented on IEP shares. Wall Street Zen cut shares of Icahn Enterprises from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Zacks Research raised shares of Icahn Enterprises from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

About Icahn Enterprises

Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services.