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Tiziano Frateschi
Tiziano Frateschi
Articles (2114)  | Author's Website |

Carl Icahn's Largest Trades of the 2nd Quarter

Guru's most important buys and sales

July 19, 2016 | About:

Carl Icahn (Trades, Portfolio) is an activist investor. He takes minority stakes in public companies and typically pushes for change. There are his most heavily weighted trades of the second quarter:

The guru bought 287,525 shares in Herc Holdings Inc. (HRI) with an impact of 0.05% on the portfolio.

Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is one of the leading equipment rental suppliers with approximately 280 company-operated branches, principally located in North America.

GuruFocus gives the stock a profitability and growth rating of 2 out of 10 with ROE of 13.10% that is outperforming and ROA of 1.19 that is underperforming 64% of the companies in the Global Rental & Leasing Services industry. Financial strength has a rating of 5 out of 10, with cash to debt of 0.05 that is below industry median of 0.67.

The investor increased his stake in Hertz Global Holdings Inc. (HTZ) two times by 200.00% and 1.54%. These trades had an impact of 0.01% and 0.05% on the portfolio.

The company is engaged in car and truck rental and leasing and equipment rental business with operation in North America, Europe, the U.S., Canada and France.

During the last quarter, net loss was $51 million, or 12 cents loss per share, compared with a net loss of $70 million, or 15 cents loss per share, in the first quarter of 2015 and adjusted corporate EBITDA was $155 million, a decrease of $71 million from the prior year.

GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of 13.10% that is outperforming and ROA of 1.19% that is underperforming 66% of the companies in the Global Rental & Leasing Services industry. Financial strength has a rating of 4 out of 10, with cash to debt 0.05 that is above the industry median of 0.67.

Larry Robbins (Trades, Portfolio) is another notable shareholder of the company among the gurus, with 0.14% of outstanding shares followed by Mario Gabelli (Trades, Portfolio) with 0.03%, PRIMECAP Management (Trades, Portfolio) with 0.02% and Jim Simons (Trades, Portfolio) with 0.01%.

The guru increased his stake in Xerox Corp. (XRX) by 7.2% with an impact of 0.38% on the portfolio.

The company is engaged in business process and document management solutions. It provides services, technology and expertise to small businesses to large enterprises, to focus on their core business and operate more effectively.

During the first quarter of 2016, it delivered adjusted EPS of 22 cents within its guidance range and GAAP EPS from continuing operations was 3 cents. Total revenue decreased 4% or 3% in constant currency. Operating margin of 7.2% declined 130 basis points from the same quarter a year before.

GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 2.72% and ROA of 1.11% that are underperforming 58% of the companies in the Global Information Technology Services industry. Financial strength has a rating of 5 out of 10, with cash to debt of 0.16 that is below industry median of 11.14.

Other gurus who hold outstanding shares of the company are Joel Greenblatt (Trades, Portfolio) with 0.39%, Paul Tudor Jones (Trades, Portfolio) with 0.06%, Bernard Horn (Trades, Portfolio) with 0.04% and Manning & Napier Advisors, Inc with 0.03%.

The guru increased his stake in Icahn Enterprises LP (IEP) two times by 2.54% and 2.35%. These trades had an impact of 0.75% and 0.8% on the portfolio.

The company is a diversified holding company owning subsidiaries engaged in nine primary business segments: Investment, Automotive, Energy, Gaming, Railcar, Food Packaging, Metals, Real Estate and Home Fashion.

Adjusted EBITDA attributable to Icahn Enterprises was $(80) million compared to $576 million in the first quarter of 2015 and adjusted EBIT attributable to Icahn Enterprises was $(258) million compared to $429 million in the same quarter of a year before.

GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of -47.41% and ROA of -6.10% that are underperforming 78% of the companies in the Global Conglomerates industry. Financial strength has a rating of 4 out of 10, with cash to debt 0.95 that is above the industry median of 2.79.

Murray Stahl (Trades, Portfolio) is another notable shareholder of the company among the gurus, with 2.6% of outstanding shares followed by Jim Simons (Trades, Portfolio) with 0.04%.

The investor two times reduced his stake in Hologic Inc. (HOLX) by 35.32% and 17.46%. These trades had impact of -0.66% and -0.4% on the portfolio.

The company is a developer, manufacturer and supplier of medical imaging systems and diagnostic and surgical products serving the health care needs of women.

Second quarter GAAP diluted earnings per share (EPS) of 24 cents increased 41.2%, and non-GAAP diluted EPS of 47 cents increased 14.6%. Revenue grew 5.8% on a reported basis and 6.3% on a constant currency basis.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 9.74% and ROA of 2.68 that are out performing 54% of the companies in the Global Medical Instruments & Supplies industry. Financial strength has a rating of 4 out of 10, with cash to debt of 0.09 that is below industry median of 1.66.

Another notable shareholder among the gurus is Vanguard Health Care Fund (Trades, Portfolio) with 5.68% of outstanding shares followed by Kahn Brothers (Trades, Portfolio) with 0.48%, Jim Simons (Trades, Portfolio) with 0.45%, RS Investment Management (Trades, Portfolio) with 0.33%, Steven Cohen (Trades, Portfolio) with 0.2%, Pioneer Investments (Trades, Portfolio) with 0.02%, Paul Tudor Jones (Trades, Portfolio) with 0.02%, Ray Dalio (Trades, Portfolio) with 0.02 and Ken Fisher (Trades, Portfolio) with 0.02%.

Disclosure: I do not own any shares of any stocks mentioned in this article.

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About the author:

Tiziano Frateschi
You can read about me on www.theextraincome.info, which gives suggestions on position trading.

Visit Tiziano Frateschi's Website


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