Wells Fargo & Company MN reduced its stake in shares of Icahn Enterprises LP (NASDAQ:IEP) by 9.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 115,084 shares of the conglomerate’s stock after selling 12,493 shares during the period. Wells Fargo & Company MN’s holdings in Icahn Enterprises were worth $8,333,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC increased its holdings in Icahn Enterprises by 18.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 28,599 shares of the conglomerate’s stock worth $2,070,000 after purchasing an additional 4,493 shares in the last quarter. Advisor Group Inc. increased its holdings in Icahn Enterprises by 9.1% during the 2nd quarter. Advisor Group Inc. now owns 9,067 shares of the conglomerate’s stock worth $657,000 after purchasing an additional 757 shares in the last quarter. Bremer Bank National Association bought a new stake in Icahn Enterprises during the 1st quarter worth approximately $58,000. Raymond James & Associates increased its holdings in Icahn Enterprises by 9.2% during the 1st quarter. Raymond James & Associates now owns 38,886 shares of the conglomerate’s stock worth $2,819,000 after purchasing an additional 3,290 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Icahn Enterprises by 85.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,776 shares of the conglomerate’s stock worth $1,216,000 after purchasing an additional 7,750 shares in the last quarter. 96.84% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on IEP shares. UBS Group decreased their price objective on Icahn Enterprises from $56.00 to $55.00 and set a “sell” rating for the company in a report on Thursday, August 29th. BidaskClub lowered Icahn Enterprises from a “hold” rating to a “sell” rating in a report on Thursday.
Shares of IEP stock traded up $0.20 during trading on Friday, hitting $67.80. The company’s stock had a trading volume of 2,453 shares, compared to its average volume of 94,433. The company has a debt-to-equity ratio of 0.76, a quick ratio of 6.54 and a current ratio of 6.54. The business has a fifty day moving average of $71.04 and a 200-day moving average of $72.39. Icahn Enterprises LP has a 52 week low of $50.33 and a 52 week high of $79.37.
Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Tuesday, August 6th. The conglomerate reported ($2.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($2.69). The business had revenue of $2.20 billion during the quarter. Icahn Enterprises had a net margin of 1.86% and a negative return on equity of 10.95%.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, August 13th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 11.80%. The ex-dividend date of this dividend is Monday, August 12th.
Icahn Enterprises Company Profile
Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, metals, real estate, home fashion, and mining businesses in the United States and Internationally. Its Investment segment operates various private investment funds. The company's Automotive segment is involved in the retail and wholesale distribution of automotive parts in the aftermarket, as well as offers automotive repair and maintenance services.
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