Bank of Nova Scotia Trust Co. Decreases Holdings in CAE Inc (NYSE:CAE)

Key Points

• Bank of Nova Scotia Trust Co. has reduced its stake in CAE Inc by 24.0%, selling 12,714 shares, now holding 40,207 shares valued at approximately $989,000.
• Institutional investors own 67.36% of CAE, with notable increases in holdings by Sequoia Financial Advisors and JPMorgan Chase & Co., indicating growing confidence in the company's prospects.
• Equities research analysts have given CAE a consensus rating of "Moderate Buy" with an average target price of $33.67, reflecting optimism about the company's future performance.

Bank of Nova Scotia Trust Co. lessened its stake in shares of CAE Inc (NYSE:CAE - Free Report) TSE: CAE by 24.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,207 shares of the aerospace company's stock after selling 12,714 shares during the quarter. Bank of Nova Scotia Trust Co.'s holdings in CAE were worth $989,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Natixis bought a new position in CAE during the fourth quarter valued at approximately $38,000. Versant Capital Management Inc bought a new stake in CAE in the first quarter valued at approximately $53,000. First Trust Advisors LP bought a new position in shares of CAE during the fourth quarter valued at approximately $213,000. Orion Portfolio Solutions LLC purchased a new stake in CAE in the fourth quarter worth $225,000. Finally, Clarius Group LLC purchased a new stake in shares of CAE in the first quarter worth $246,000. Hedge funds and other institutional investors own 67.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CAE shares. Cibc World Mkts raised CAE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Jefferies Financial Group reiterated a "hold" rating and set a $30.00 target price on shares of CAE in a research report on Monday, July 21st. The Goldman Sachs Group assumed coverage on CAE in a report on Monday, June 30th. They set a "buy" rating and a $33.00 price target for the company. National Bank Financial upgraded CAE from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Finally, Scotiabank raised CAE from a "sector perform" rating to a "sector outperform" rating in a research note on Thursday, May 15th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $33.67.

CAE Price Performance

Shares of NYSE:CAE traded up $0.02 during midday trading on Tuesday, hitting $28.90. The company had a trading volume of 122,751 shares, compared to its average volume of 545,393. The business's 50-day simple moving average is $27.86 and its 200-day simple moving average is $25.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.58. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 32.09, a price-to-earnings-growth ratio of 2.32 and a beta of 1.34. CAE Inc has a twelve month low of $16.20 and a twelve month high of $30.13.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last issued its quarterly earnings data on Tuesday, May 13th. The aerospace company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $886.20 million during the quarter, compared to analysts' expectations of $1.30 billion. CAE had a return on equity of 8.17% and a net margin of 8.55%. The company's revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share. On average, research analysts predict that CAE Inc will post 0.83 earnings per share for the current year.

CAE Profile

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, the Oceania, Africa, and Rest of the Americas. It operates through two segments, Civil Aviation; and Defense and Security. The Civil Aviation segment offers training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; a range of flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as aircraft flight operations solutions.