Pershing Square Inc. (NYSE:PS) Receives $41.12 Average Target Price from Brokerages

Shares of Pershing Square Inc. (NYSE:PS) have earned an average recommendation of “Hold” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $41.1250.

A number of brokerages have recently weighed in on PS. Zacks Research raised Pershing Square to a “hold” rating in a research report on Friday, May 29th. Bank of America began coverage on shares of Pershing Square in a research report on Tuesday, May 26th. They issued a “neutral” rating and a $42.00 price target for the company. Oppenheimer assumed coverage on shares of Pershing Square in a report on Tuesday, May 26th. They set a “market perform” rating on the stock. Loop Capital started coverage on shares of Pershing Square in a research note on Tuesday, May 26th. They issued a “buy” rating and a $49.00 price objective on the stock. Finally, UBS Group initiated coverage on shares of Pershing Square in a research report on Tuesday, May 26th. They set a “neutral” rating and a $39.00 target price for the company.

Pershing Square Trading Down 1.1%

PS stock opened at $34.33 on Wednesday. The business’s 50 day moving average price is $36.01. The firm has a market cap of $13.73 billion, a P/E ratio of -40.21 and a beta of 2.27. Pershing Square has a fifty-two week low of $22.01 and a fifty-two week high of $54.94.

Pershing Square Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Monday, July 13th will be paid a dividend of $0.122 per share. The ex-dividend date is Monday, July 13th. This represents a $0.49 dividend on an annualized basis and a yield of 1.4%.

Insider Buying and Selling

In related news, CEO William A. Ackman acquired 800,000 shares of the stock in a transaction dated Thursday, April 30th. The stock was purchased at an average cost of $23.77 per share, with a total value of $19,016,000.00. Following the completion of the purchase, the chief executive officer directly owned 1,500,000 shares in the company, valued at $35,655,000. This trade represents a 114.29% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.