Activist investor Carl Icahn (Trades, Portfolio) did not buy new stocks in the first quarter but made several other notable moves.
The investor has spent much of his time in the public eye over the past several months vying for change at Apple Inc. (AAPL, Financial), a stock that eats 20.48% of his portfolio as his second largest holding. On April 28 he proclaimed the company “still undervalued and misunderstood” on Twitter. He then projected 40% earnings growth for the year and a worth of $240 on its shares, in an open letter dated May 18.
In the first quarter, Icahn also increased his stakes in four of stocks in his Icahn Capital Management portfolio and sold out of one position.
Increases
Voltari Corp (VLTC, Financial)
Icahn increased his holding of Voltari Corp by 598.85%, bringing the total to 4,739,620 shares held. The company’s share price was $0.87 on average for the first quarter, and the position still equates to only 0.01% of the portfolio.
Voltari Corp formerly known as Motricity Inc. is a Delaware corporation, and was incorporated on March 17, 2004. Voltari Corp has a market cap of $68.81 million; its shares were traded at around $7.59 with and P/S ratio of 2.98.
Manitowoc Co. Inc. (MTW, Financial)
Icahn boosted his holding of Manitowoc by 135.56% to 10,582,660 shares, representing 0.71% of the portfolio. The company’s average share price for the quarter was $20.69.
Manitowoc Co. Inc. a Wisconsin corporation was founded in 1902. Manitowoc Co. Inc. has a market cap of $2.78 billion; its shares were traded at around $20.43 with a P/E ratio of 19.30 and P/S ratio of 0.74. The dividend yield of Manitowoc Co. Inc. stocks is 0.39%.
Federal-Mogul Holdings Corp (FDML, Financial)
Icahn increased his position in Federal-Mogul Holdings Corp by 14.43% to 138,590,141 shares in total, which reflects 5.76% of the portfolio.
Federal-Mogul Holdings Corp is supplier of technology and innovation in vehicle and industrial products for fuel economy, emissions reduction and safety systems. Federal-Mogul Holdings Corp has a market cap of $2.15 billion; its shares were traded at around $12.73 with and P/S ratio of 0.26. Federal-Mogul Holdings Corp had an annual average earnings growth of 0.4% over the past 10 years.
Sells
Talisman Energy Inc. (TLM, Financial)
Icahn also jettisoned a position in Talisman Energy Inc., which was formerly 76,060,078 shares. He had started the stake in the third quarter of 2013 when the share price averaged $11. It closed Friday at $7.99 per share.
Talisman Energy Inc. was incorporated under the Canada Business Corporations Act in Canada on Dec. 14, 1982. Talisman Energy Inc. has a market cap of $8.26 billion; its shares were traded at around $7.99 with and P/S ratio of 2.43. The dividend yield of Talisman Energy Inc. stocks is 3.9%.
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