Pershing Square (NYSE:PS) Trading Down 4.7% – Should You Sell?

Shares of Pershing Square Inc. (NYSE:PS) dropped 4.7% during trading on Monday . The company traded as low as $47.39 and last traded at $47.47. 187,974 shares were traded during trading, a decline of 53% from the average daily volume of 401,388 shares. The stock had previously closed at $49.83.

Analyst Ratings Changes

PS has been the topic of a number of recent analyst reports. JonesTrading upped their price objective on Pershing Square from $39.00 to $42.00 and gave the company a “buy” rating in a report on Monday, August 24th. Weiss Ratings upgraded shares of Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Citigroup cut shares of Pershing Square from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Wednesday, August 19th. UBS Group initiated coverage on Pershing Square in a research note on Tuesday, May 26th. They issued a “neutral” rating and a $39.00 price target on the stock. Finally, Royal Bank Of Canada lowered their price objective on Pershing Square from $40.00 to $38.00 and set a “sector perform” rating for the company in a research report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Pershing Square has a consensus rating of “Hold” and an average price target of $41.33.

Pershing Square Price Performance

The stock has a market capitalization of $19.52 billion and a price-to-earnings ratio of 348.50. The company’s fifty day moving average price is $38.15.

Pershing Square (NYSE:PS) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $68.03 million for the quarter. As a group, research analysts forecast that Pershing Square Inc. will post 0.56 EPS for the current year.

Pershing Square Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC acquired a new stake in Pershing Square during the 2nd quarter valued at $1,702,000. Equitec Proprietary Markets LLC acquired a new position in shares of Pershing Square in the second quarter worth $3,828,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in Pershing Square in the 2nd quarter valued at about $9,858,000. Proficio Capital Partners LLC acquired a new stake in shares of Pershing Square during the 2nd quarter worth about $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.