Canada Pension Plan Investment Board Raises Stock Position in CAE Inc $CAE

Key Points

• The Canada Pension Plan Investment Board increased its stake in CAE Inc by 61.4%, holding approximately 1.68 million shares valued at $41.4 million at the end of the first quarter.
• Analysts have varying ratings for CAE, with two considering it a Strong Buy, five a Buy, and four a Hold, resulting in an average target price of $33.67.
• CAE reported a net margin of 8.70% and earnings per share (EPS) of $0.15 for the latest quarter, matching analyst expectations despite a year-on-year decrease in EPS.

Canada Pension Plan Investment Board raised its position in CAE Inc (NYSE:CAE - Free Report) TSE: CAE by 61.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,684,174 shares of the aerospace company's stock after purchasing an additional 640,678 shares during the period. Canada Pension Plan Investment Board owned 0.53% of CAE worth $41,413,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Nomura Holdings Inc. bought a new stake in shares of CAE in the 4th quarter worth approximately $201,771,000. Browning West LP bought a new stake in CAE during the 4th quarter valued at $150,629,000. Select Equity Group L.P. raised its holdings in CAE by 427.1% during the 4th quarter. Select Equity Group L.P. now owns 6,741,514 shares of the aerospace company's stock valued at $171,093,000 after buying an additional 5,462,455 shares during the last quarter. JARISLOWSKY FRASER Ltd grew its holdings in CAE by 7.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 23,994,091 shares of the aerospace company's stock worth $606,697,000 after acquiring an additional 1,702,904 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in CAE by 195.3% during the 4th quarter. Bank of America Corp DE now owns 2,350,178 shares of the aerospace company's stock valued at $59,648,000 after purchasing an additional 1,554,266 shares during the period. 67.36% of the stock is currently owned by institutional investors.

CAE Stock Up 0.1%

CAE stock traded up $0.02 during mid-day trading on Thursday, hitting $26.69. The company had a trading volume of 258,889 shares, compared to its average volume of 569,622. CAE Inc has a 12 month low of $17.34 and a 12 month high of $30.13. The company has a market capitalization of $8.56 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 2.38 and a beta of 1.36. The stock's 50 day moving average price is $28.40 and its two-hundred day moving average price is $26.11. The company has a current ratio of 0.87, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last announced its quarterly earnings data on Tuesday, August 12th. The aerospace company reported $0.15 EPS for the quarter, meeting 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 the consensus estimate of $1.12 billion. During the same period in the prior year, the firm posted $0.21 EPS. As a group, sell-side analysts anticipate that CAE Inc will post 0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAE has been the subject of a number of recent analyst reports. Wall Street Zen downgraded CAE from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of CAE in a research report on Monday, July 7th. The Goldman Sachs Group began coverage on shares of CAE in a research note on Monday, June 30th. They set a "buy" rating and a $33.00 target price on the stock. Cibc World Mkts raised shares of CAE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $30.00 price objective on shares of CAE in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.67.

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.