Wedbush Securities Inc. Acquires Shares of 16,100 Pershing Square Inc. $PS

Wedbush Securities Inc. acquired a new stake in Pershing Square Inc. (NYSE:PS) in the second quarter, Holdings Channel.com reports. The firm acquired 16,100 shares of the company’s stock, valued at approximately $529,000.

Several other large investors have also made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Pershing Square in the 2nd quarter valued at $9,858,000. Equitec Proprietary Markets LLC acquired a new position in Pershing Square during the second quarter worth $3,828,000. Hsbc Holdings PLC purchased a new position in Pershing Square during the second quarter valued at $775,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Pershing Square in the second quarter valued at about $302,000.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Oppenheimer assumed coverage on shares of Pershing Square in a research note on Tuesday, May 26th. They set a “market perform” rating for the company. Wells Fargo & Company lowered their price objective on Pershing Square from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, July 20th. Royal Bank Of Canada cut their price objective on Pershing Square from $40.00 to $38.00 and set a “sector perform” rating for the company in a research note on Monday, July 13th. Jefferies Financial Group began coverage on Pershing Square in a report on Monday, May 25th. They set a “hold” rating and a $40.00 target price for the company. Finally, Weiss Ratings upgraded Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pershing Square presently has a consensus rating of “Hold” and an average price target of $40.89.

Pershing Square Price Performance

Shares of NYSE PS opened at $36.53 on Thursday. The firm has a 50-day simple moving average of $36.53. The firm has a market capitalization of $14.61 billion and a PE ratio of 260.93. Pershing Square Inc. has a 52 week low of $22.01 and a 52 week high of $54.94.

Pershing Square (NYSE:PS) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $68.03 million for the quarter. Equities research analysts expect that Pershing Square Inc. will post 0.56 earnings per share for the current fiscal year.

Pershing Square Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were given a $0.122 dividend. The ex-dividend date was Monday, July 13th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 1.3%. Pershing Square’s dividend payout ratio is 350.00%.

Pershing Square Profile

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.