Pershing Square (NYSE:PS) Trading 5.7% Higher – Still a Buy?

Pershing Square Inc. (NYSE:PS)’s stock price was up 5.7% during mid-day trading on Tuesday . The company traded as high as $51.25 and last traded at $50.97. Approximately 170,912 shares were traded during trading, a decline of 59% from the average session volume of 418,509 shares. The stock had previously closed at $48.23.

Analyst Upgrades and Downgrades

PS has been the subject of several research reports. JonesTrading lifted their target price on Pershing Square from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Tigress Financial lifted their price target on Pershing Square from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Jefferies Financial Group began coverage on shares of Pershing Square in a report on Monday, May 25th. They issued a “hold” rating and a $40.00 target price for the company. UBS Group began coverage on Pershing Square in a research note on Tuesday, May 26th. They issued a “neutral” rating and a $39.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on shares of Pershing Square from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 3rd. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.33.

Pershing Square Stock Performance

The stock has a market cap of $20.22 billion and a price-to-earnings ratio of 361.00. The company’s 50-day simple moving average is $38.44.

Pershing Square (NYSE:PS) last issued 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 business had revenue of $68.03 million during the quarter. On average, analysts predict that Pershing Square Inc. will post 0.56 earnings per share for the current year.

Pershing Square Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Monday, July 13th were given a dividend of $0.122 per share. This represents a $0.49 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, July 13th. Pershing Square’s payout ratio is currently 350.00%.

Institutional Trading of Pershing Square

Several institutional investors and hedge funds have recently made changes to their positions in PS. NewEdge Advisors LLC purchased a new position in Pershing Square in the 2nd quarter valued at about $1,702,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Pershing Square during the second quarter worth about $3,828,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Pershing Square in the second quarter valued at approximately $9,858,000. Proficio Capital Partners LLC acquired a new position in shares of Pershing Square in the second quarter valued at approximately $1,459,000. Finally, Rivernorth Capital Management LLC purchased a new position in shares of Pershing Square during the second quarter valued at approximately $14,787,000.

Pershing Square Company Profile

Pershing Square USA, Ltd. is a closed-end investment company listed on the New York Stock Exchange under the symbol PS. Rather than operating a conventional commercial business, the company invests shareholder capital in a concentrated portfolio of publicly traded companies.

The fund seeks long-term capital appreciation by investing primarily in large, established North American businesses. Its investment approach emphasizes fundamental research, a limited number of high-conviction holdings, and active engagement with portfolio companies when appropriate.

Pershing Square USA is managed by Pershing Square Capital Management, an investment management firm founded by William A.