CAE Inc (CAE) Position Reduced by Nexus Investment Management Inc.
Nexus Investment Management Inc. cut its position in CAE Inc (NYSE:CAE) (TSE:CAE) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 950,525 shares of the aerospace company’s stock after selling 27,750 shares during the period. CAE accounts for 2.7% of Nexus Investment Management Inc.’s holdings, making the stock its 20th largest position. Nexus Investment Management Inc. owned 0.35% of CAE worth $16,370,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware acquired a new position in CAE during the first quarter worth $138,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in CAE by 0.7% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,557 shares of the aerospace company’s stock worth $130,000 after buying an additional 57 shares during the period. Trexquant Investment LP acquired a new position in CAE during the first quarter worth $173,000. Wetherby Asset Management Inc. acquired a new position in CAE during the first quarter worth $207,000. Finally, Schroder Investment Management Group acquired a new position in CAE during the first quarter worth $285,000. 56.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of CAE Inc (NYSE:CAE) opened at 17.00 on Monday. CAE Inc has a 12 month low of $12.98 and a 12 month high of $17.88. The firm has a 50-day moving average price of $17.13 and a 200-day moving average price of $15.69. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 23.07 and a beta of 0.86.
CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings results on Wednesday, May 31st. The aerospace company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. The company had revenue of $734.70 million for the quarter, compared to the consensus estimate of $748.41 million. CAE had a net margin of 9.30% and a return on equity of 13.96%. CAE’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. Equities analysts expect that CAE Inc will post $0.86 EPS for the current fiscal year.
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CAE has been the topic of several analyst reports. BidaskClub lowered shares of CAE from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of CAE from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, August 1st. Finally, TD Securities lowered shares of CAE from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. CAE presently has an average rating of “Hold” and an average price target of $19.14.
CAE Inc provides training for the civil aviation, defense and security, and healthcare markets. The Company designs and integrates training solutions. It operates through three segments: Civil Aviation Training Solutions, Defense and Security, and Healthcare. The Company provides training solutions for flight, cabin, maintenance and ground personnel in commercial, business and helicopter aviation, a range of flight simulation training devices, as well as ab initio pilot training and crew sourcing services.
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