Equitec Proprietary Markets LLC Invests $3.83 Million in Pershing Square Inc. $PS

Equitec Proprietary Markets LLC purchased a new stake in Pershing Square Inc. (NYSE:PS) during the second quarter, Holdings Channel reports. The firm purchased 116,500 shares of the company’s stock, valued at approximately $3,828,000. Pershing Square comprises 0.7% of Equitec Proprietary Markets LLC’s portfolio, making the stock its 7th biggest holding.

A number of other hedge funds have also made changes to their positions in PS. Hsbc Holdings PLC acquired a new stake in shares of Pershing Square during the second quarter worth approximately $775,000. Ancora Advisors LLC acquired a new stake in Pershing Square during the 2nd quarter valued at $302,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in Pershing Square in the second quarter worth $9,858,000.

Analyst Ratings Changes

Several research firms have issued reports on PS. Citigroup downgraded Pershing Square from a “buy” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Wednesday, August 19th. Wells Fargo & Company lowered their price objective on Pershing Square from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. Tigress Financial initiated coverage on shares of Pershing Square in a research note on Monday, July 27th. They issued a “neutral” rating and a $39.00 target price on the stock. Jefferies Financial Group started coverage on shares of Pershing Square in a report on Monday, May 25th. They issued a “hold” rating and a $40.00 price objective on the stock. Finally, Bank of America began coverage on shares of Pershing Square in a research report on Tuesday, May 26th. They set a “neutral” rating and a $42.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.89.

Pershing Square Stock Up 0.6%

Shares of PS stock opened at $42.37 on Friday. The company has a fifty day simple moving average of $36.12. Pershing Square Inc. has a 1 year low of $22.01 and a 1 year high of $54.94. The firm has a market cap of $16.95 billion and a price-to-earnings ratio of 302.64.

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

Pershing Square Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were issued a dividend of $0.122 per share. The ex-dividend date of this dividend was Monday, July 13th. This represents a $0.49 annualized dividend and a dividend yield of 1.2%. Pershing Square’s dividend payout ratio (DPR) is currently 350.00%.

Pershing Square Company 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.