Lazard Asset Management LLC Raises Stock Position in Travel + Leisure Co. (NYSE:TNL)

Lazard Asset Management LLC increased its stake in Travel + Leisure Co. (NYSE:TNLGet Rating) by 431.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,123 shares of the company’s stock after buying an additional 2,535 shares during the period. Lazard Asset Management LLC’s holdings in Travel + Leisure were worth $121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of TNL. BlackRock Inc. boosted its stake in shares of Travel + Leisure by 13.9% during the 1st quarter. BlackRock Inc. now owns 9,806,796 shares of the company’s stock worth $568,206,000 after acquiring an additional 1,197,611 shares during the last quarter. Commerce Bank purchased a new position in shares of Travel + Leisure during the 1st quarter worth $52,340,000. Boston Partners boosted its stake in shares of Travel + Leisure by 25.2% during the 1st quarter. Boston Partners now owns 4,068,039 shares of the company’s stock worth $234,757,000 after acquiring an additional 817,795 shares during the last quarter. Copeland Capital Management LLC boosted its stake in shares of Travel + Leisure by 198.1% during the 2nd quarter. Copeland Capital Management LLC now owns 1,006,481 shares of the company’s stock worth $39,071,000 after acquiring an additional 668,819 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Travel + Leisure by 11.8% during the 1st quarter. Invesco Ltd. now owns 6,057,641 shares of the company’s stock worth $350,980,000 after acquiring an additional 636,968 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Travel + Leisure Stock Performance

Shares of NYSE TNL opened at $38.15 on Wednesday. The company has a market cap of $3.10 billion, a P/E ratio of 8.77 and a beta of 1.69. The firm’s fifty day moving average is $37.80 and its two-hundred day moving average is $42.22. Travel + Leisure Co. has a 52-week low of $33.57 and a 52-week high of $63.19.

Travel + Leisure (NYSE:TNLGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.01). The company had revenue of $937.00 million during the quarter, compared to the consensus estimate of $943.06 million. Travel + Leisure had a net margin of 10.57% and a negative return on equity of 45.32%. As a group, analysts forecast that Travel + Leisure Co. will post 4.46 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $1.60 dividend on an annualized basis and a yield of 4.19%. Travel + Leisure’s dividend payout ratio is currently 36.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TNL. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Travel + Leisure from $69.00 to $62.00 in a research note on Friday, October 28th. Truist Financial lowered their target price on shares of Travel + Leisure from $72.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, November 15th. Barclays lowered their target price on shares of Travel + Leisure to $43.00 in a research note on Tuesday, November 1st. Credit Suisse Group cut shares of Travel + Leisure from an “outperform” rating to an “underperform” rating in a research note on Friday, October 28th. Finally, Stifel Nicolaus lowered their target price on shares of Travel + Leisure from $76.00 to $61.00 in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $61.00.

Travel + Leisure Company Profile

(Get Rating)

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers; provides consumer financing in connection with the sale of VOIs; and provides property management services at resorts.

See Also

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Institutional Ownership by Quarter for Travel + Leisure (NYSE:TNL)

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