Equitec Proprietary Markets LLC purchased a new position in shares of Pershing Square Inc. (NYSE:PS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 116,500 shares of the company's stock, valued at approximately $3,828,000. Pershing Square makes up approximately 0.7% of Equitec Proprietary Markets LLC's investment portfolio, making the stock its 7th largest position.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new position in Pershing Square during the 2nd quarter worth approximately $302,000. Hsbc Holdings PLC purchased a new stake in shares of Pershing Square in the second quarter valued at approximately $775,000. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Pershing Square in the second quarter valued at approximately $9,858,000.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Tigress Financial assumed coverage on Pershing Square in a report on Monday, July 27th. They issued a "neutral" rating and a $39.00 target price for the company. Zacks Research raised shares of Pershing Square to a "hold" rating in a research note on Friday, May 29th. Loop Capital initiated coverage on shares of Pershing Square in a report on Tuesday, May 26th. They issued a "buy" rating and a $49.00 price target for the company. Wells Fargo & Company reduced their price objective on shares of Pershing Square from $37.00 to $34.00 and set an "equal weight" rating for the company in a research note on Monday, July 20th. Finally, Citigroup cut shares of Pershing Square from a "buy" rating to a "neutral" rating and set a $45.00 target price for the company. in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Pershing Square currently has a consensus rating of "Hold" and a consensus target price of $40.89.
View Our Latest Report on PS
Pershing Square Stock Performance
PS stock opened at $42.37 on Friday. The firm's 50 day moving average price is $36.12. The firm has a market cap of $16.95 billion and a price-to-earnings ratio of 302.64. Pershing Square Inc. has a 12-month low of $22.01 and a 12-month high of $54.94.
Pershing Square (NYSE:PS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $68.03 million for the quarter. On average, equities research analysts forecast that Pershing Square Inc. will post 0.56 earnings per share for the current fiscal year.
Pershing Square Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Monday, July 13th were issued a $0.122 dividend. The ex-dividend date was Monday, July 13th. This represents a $0.49 dividend on an annualized basis and a yield of 1.2%. Pershing Square's dividend payout ratio is currently 350.00%.
Pershing Square Profile
(
Free Report)
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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