BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stake in CAE Inc $CAE

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in CAE Inc by 26.6%, owning 177,806 shares valued at approximately $4.37 million.
• CAE reported $0.15 earnings per share for the last quarter, matching analysts' estimates, but its revenue fell short of expectations at $806.92 million.
• Institutional ownership of CAE Inc stands at 67.36%, with a mix of ratings from analysts including two "Strong Buy", five "Buy", and four "Hold".

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of CAE Inc (NYSE:CAE - Free Report) TSE: CAE by 26.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 177,806 shares of the aerospace company's stock after buying an additional 37,349 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.06% of CAE worth $4,372,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Korea Investment CORP raised its position in CAE by 1.4% in the 1st quarter. Korea Investment CORP now owns 195,249 shares of the aerospace company's stock worth $4,800,000 after purchasing an additional 2,687 shares during the period. Cresset Asset Management LLC grew its holdings in CAE by 10.8% in the 1st quarter. Cresset Asset Management LLC now owns 589,884 shares of the aerospace company's stock worth $14,505,000 after acquiring an additional 57,373 shares during the last quarter. American Century Companies Inc. grew its holdings in CAE by 12.8% in the 1st quarter. American Century Companies Inc. now owns 2,964,515 shares of the aerospace company's stock worth $72,885,000 after acquiring an additional 337,118 shares during the last quarter. OneAscent Investment Solutions LLC bought a new stake in CAE in the 1st quarter worth $749,000. Finally, Neuberger Berman Group LLC bought a new stake in CAE in the 1st quarter worth $263,000. Hedge funds and other institutional investors own 67.36% of the company's stock.

CAE Trading Down 0.2%

Shares of NYSE CAE traded down $0.05 during mid-day trading on Friday, reaching $26.97. The company had a trading volume of 380,558 shares, compared to its average volume of 718,517. The business's 50-day moving average is $28.37 and its 200-day moving average is $26.10. The company has a current ratio of 0.87, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 2.38 and a beta of 1.36. CAE Inc has a 52 week low of $17.34 and a 52 week high of $30.13.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last issued its earnings results on Tuesday, August 12th. The aerospace company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. CAE had a net margin of 8.70% and a return on equity of 7.92%. The company had revenue of $806.92 million for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the business earned $0.21 EPS. Equities analysts expect that CAE Inc will post 0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CAE. Wall Street Zen lowered shares of CAE from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Jefferies Financial Group reissued a "hold" rating and set a $30.00 price target on shares of CAE in a research report on Monday, July 21st. The Goldman Sachs Group started coverage on shares of CAE in a research report on Monday, June 30th. They set a "buy" rating and a $33.00 price target for the company. Scotiabank reissued an "outperform" rating on shares of CAE in a research report on Thursday, August 14th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of CAE in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.67.

About CAE

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.