Pershing Square Inc. (NYSE:PS) Receives Consensus Recommendation of “Hold” from Brokerages

Pershing Square Inc. (NYSE:PS) has been given a consensus recommendation of “Hold” by the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $40.75.

PS has been the topic of several analyst reports. JonesTrading began coverage on shares of Pershing Square in a research note on Wednesday, July 8th. They set a “buy” rating and a $39.00 price target on the stock. UBS Group started coverage on Pershing Square in a research note on Tuesday, May 26th. They set a “neutral” rating and a $39.00 target price for the company. Citigroup cut their price target on Pershing Square from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Wall Street Zen downgraded Pershing Square from a “hold” rating to a “sell” rating in a report on Sunday, June 7th. Finally, Loop Capital assumed coverage on Pershing Square in a research note on Tuesday, May 26th. They set a “buy” rating and a $49.00 price objective for the company.

Pershing Square Stock Up 8.5%

Shares of PS stock opened at $35.84 on Wednesday. The stock has a market capitalization of $14.34 billion, a P/E ratio of -40.21 and a beta of 2.27. The company has a fifty day moving average price of $35.34. Pershing Square has a twelve month low of $22.01 and a twelve month high of $54.94.

Pershing Square Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were paid a dividend of $0.122 per share. This represents a $0.49 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, July 13th.

Insider Buying and Selling at Pershing Square

In related news, CEO William A. Ackman purchased 800,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average price of $23.77 per share, for a total transaction of $19,016,000.00. Following the completion of the purchase, the chief executive officer owned 1,500,000 shares in the company, valued at approximately $35,655,000. This represents a 114.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.79% of the company’s stock.

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.