Kayne Anderson Rudnick Investment Management LLC Cuts Stake in CAE Inc $CAE

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in CAE Inc by 42.7% in the first quarter, selling 398,008 shares and now owning approximately 0.17% of the company.
• Institutional investors currently hold 67.36% of CAE's stock, with several funds acquiring new positions recently, indicating a changing landscape for investor ownership.
• Analysts have mixed opinions on CAE, with two giving a Strong Buy rating, while the stock has an average target price of $33.67 and a current price near $26.74.

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in CAE Inc (NYSE:CAE - Free Report) TSE: CAE by 42.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 534,357 shares of the aerospace company's stock after selling 398,008 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.17% of CAE worth $13,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of CAE by 25.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 30,917,402 shares of the aerospace company's stock worth $784,651,000 after acquiring an additional 6,313,165 shares in the last quarter. JARISLOWSKY FRASER Ltd grew its stake in shares of CAE by 7.6% in the fourth 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. Vanguard Group Inc. lifted its position in CAE by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 12,363,008 shares of the aerospace company's stock valued at $303,957,000 after acquiring an additional 149,142 shares in the last quarter. Nomura Holdings Inc. bought a new position in CAE in the 4th quarter valued at approximately $201,771,000. Finally, Select Equity Group L.P. lifted its position in CAE by 427.1% in 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 acquiring an additional 5,462,455 shares in the last quarter. 67.36% of the stock is currently owned by institutional investors.

CAE Price Performance

Shares of CAE stock traded down $0.05 on Friday, hitting $26.97. 380,558 shares of the stock traded hands, compared to its average volume of 722,418. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 2.38 and a beta of 1.34. CAE Inc has a 52 week low of $17.34 and a 52 week high of $30.13. The firm has a 50 day simple moving average of $28.37 and a two-hundred day simple moving average of $26.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.60.

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. The firm had revenue of $806.92 million for the quarter, compared to the consensus estimate of $1.12 billion. CAE had a net margin of 8.70% and a return on equity of 7.92%. During the same period last year, the firm earned $0.21 EPS. As a group, equities research analysts predict that CAE Inc will post 0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on CAE. Scotiabank reaffirmed an "outperform" rating on shares of CAE in a research report on Thursday, August 14th. National Bank Financial raised shares of CAE from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. BMO Capital Markets reissued an "outperform" rating on shares of CAE in a report on Wednesday, May 14th. Cibc World Mkts upgraded CAE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, The Goldman Sachs Group began coverage on CAE in a research note on Monday, June 30th. They set a "buy" rating and a $33.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.