Envestnet Portfolio Solutions Inc. Reduces Stock Position in Air Lease Co. (NYSE:AL)

Envestnet Portfolio Solutions Inc. reduced its stake in Air Lease Co. (NYSE:AL) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,896 shares of the transportation company’s stock after selling 1,666 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Air Lease were worth $1,200,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Arizona State Retirement System boosted its stake in Air Lease by 0.8% in the 4th quarter. Arizona State Retirement System now owns 30,708 shares of the transportation company’s stock worth $1,480,000 after purchasing an additional 244 shares during the period. Principal Securities Inc. boosted its position in shares of Air Lease by 11.6% in the fourth quarter. Principal Securities Inc. now owns 2,655 shares of the transportation company’s stock valued at $128,000 after acquiring an additional 276 shares during the period. State of New Jersey Common Pension Fund D grew its stake in Air Lease by 0.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 43,524 shares of the transportation company’s stock valued at $2,098,000 after acquiring an additional 318 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Air Lease by 12.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock worth $157,000 after acquiring an additional 389 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Air Lease by 23.6% in the 4th quarter. GAMMA Investing LLC now owns 2,309 shares of the transportation company’s stock worth $111,000 after purchasing an additional 441 shares in the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Air Lease Stock Performance

Shares of NYSE AL opened at $47.07 on Friday. The stock’s 50-day moving average is $46.68 and its 200 day moving average is $46.66. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.33 and a beta of 1.60. Air Lease Co. has a 1-year low of $39.43 and a 1-year high of $52.31. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. On average, sell-side analysts anticipate that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 1.87%. Air Lease’s dividend payout ratio is currently 26.43%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AL. Bank of America cut shares of Air Lease from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $72.00 to $50.00 in a report on Friday, March 7th. UBS Group set a $50.00 price target on Air Lease in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.67.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.