LPL Financial LLC Has $1.36 Million Stock Holdings 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 decreased its position in Icahn Enterprises L.P. (NASDAQ:IEP - Free Report) by 19.4% in the first quarter, according to its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in IEP. Icahn Carl C lifted its holdings in shares of Icahn Enterprises by 4.1% during the 4th quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate's stock valued at $3,908,333,000 after purchasing an additional 17,581,237 shares in the last quarter. First Trust Advisors LP lifted its holdings in Icahn Enterprises by 26.2% during the 4th quarter. First Trust Advisors LP now owns 660,077 shares of the conglomerate's stock valued at $5,723,000 after purchasing an additional 137,012 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Icahn Enterprises in the fourth quarter worth $969,000. Janney Montgomery Scott LLC raised its position in Icahn Enterprises by 164.0% in the first quarter. Janney Montgomery Scott LLC now owns 52,759 shares of the conglomerate's stock valued at $478,000 after purchasing an additional 32,772 shares during the last quarter. Finally, Jump Financial LLC bought a new position in shares of Icahn Enterprises during the fourth quarter worth about $221,000. 87.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IEP. Zacks Research upgraded Icahn Enterprises from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Wall Street Zen downgraded Icahn Enterprises from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold".

Icahn Enterprises Price Performance

Shares of Icahn Enterprises stock traded up $0.01 on Wednesday, hitting $8.37. 163,880 shares of the company were exchanged, compared to its average volume of 763,156. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of -6.81 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 company has a 50-day moving average price of $8.86 and a 200 day moving average price of $8.96. Icahn Enterprises L.P. has a 1-year low of $7.27 and a 1-year high of $15.65.

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

Icahn Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Monday, August 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.00 annualized dividend and a yield of 23.9%. Icahn Enterprises's payout ratio is presently -162.60%.

Icahn Enterprises Profile

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.