Proficio Capital Partners LLC acquired a new stake in Pershing Square Inc. (NYSE:PS – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 44,400 shares of the company’s stock, valued at approximately $1,459,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new position in Pershing Square in the second quarter valued at about $302,000. Wedbush Securities Inc. purchased a new stake in shares of Pershing Square during the 2nd quarter worth approximately $529,000. Hsbc Holdings PLC purchased a new stake in shares of Pershing Square during the 2nd quarter worth approximately $775,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Pershing Square in the 2nd quarter worth approximately $3,828,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Pershing Square in the 2nd quarter worth approximately $9,858,000.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. JonesTrading lifted their price objective on Pershing Square from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Bank of America started coverage on Pershing Square in a report on Tuesday, May 26th. They issued a “neutral” rating and a $42.00 target price on the stock. UBS Group assumed coverage on Pershing Square in a research report on Tuesday, May 26th. They issued a “neutral” rating and a $39.00 price target for the company. Royal Bank Of Canada cut their price target on Pershing Square from $40.00 to $38.00 and set a “sector perform” rating for the company in a research note on Monday, July 13th. Finally, Loop Capital started coverage on shares of Pershing Square in a research report on Tuesday, May 26th. They issued a “buy” rating and a $49.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.89.
Pershing Square Price Performance
Shares of Pershing Square stock opened at $38.33 on Wednesday. Pershing Square Inc. has a 1 year low of $22.01 and a 1 year high of $54.94. The firm has a market cap of $15.33 billion and a P/E ratio of 273.79. The stock’s 50 day moving average is $36.42.
Pershing Square (NYSE:PS – Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $68.03 million during the quarter. As a group, equities research analysts expect that Pershing Square Inc. will post 0.56 earnings per share for the current fiscal year.
Pershing Square Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were given a $0.122 dividend. This represents a $0.49 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, July 13th. Pershing Square’s dividend payout ratio is currently 350.00%.
Pershing Square Company Profile
Pershing Square (NYSE: PS) is a publicly traded investment holding company managed by Pershing Square Capital Management, L.P., the investment firm founded and led by William “Bill” Ackman. The vehicle provides outside investors with exposure to the firm’s concentrated, actively managed investment program and is designed to deliver long‑term capital appreciation through a portfolio of equity and related positions.
The company’s principal activities center on investing in publicly traded companies, typically through concentrated long equity positions and selectively using derivatives or other instruments for hedging or to implement investment views.
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