BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 28,934 Shares of CAE Inc. (NYSE:CAE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 186.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,426 shares of the aerospace company’s stock after acquiring an additional 28,934 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CAE were worth $825,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. bought a new position in shares of CAE during the fourth quarter worth approximately $319,000. Evoke Wealth LLC acquired a new position in CAE in the 4th quarter valued at $534,000. Jones Financial Companies Lllp lifted its position in shares of CAE by 3,712.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,783 shares of the aerospace company’s stock valued at $60,000 after acquiring an additional 2,710 shares during the period. CIBC Asset Management Inc grew its holdings in shares of CAE by 21.3% during the 4th quarter. CIBC Asset Management Inc now owns 681,156 shares of the aerospace company’s stock worth $14,749,000 after purchasing an additional 119,411 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of CAE by 1.3% in the fourth quarter. 1832 Asset Management L.P. now owns 1,854,295 shares of the aerospace company’s stock worth $40,034,000 after purchasing an additional 23,131 shares during the period. Institutional investors and hedge funds own 67.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley downgraded shares of CAE from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 16th. Jefferies Financial Group began coverage on shares of CAE in a research note on Thursday, June 6th. They issued a “hold” rating and a $21.00 price objective on the stock. StockNews.com upgraded CAE from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, Royal Bank of Canada raised CAE from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, CAE presently has an average rating of “Hold” and an average target price of $28.00.

CAE Stock Performance

Shares of CAE stock opened at $18.49 on Monday. The company’s 50 day moving average price is $17.67 and its two-hundred day moving average price is $18.78. The firm has a market capitalization of $5.90 billion, a P/E ratio of -25.68, a P/E/G ratio of 1.31 and a beta of 1.67. CAE Inc. has a fifty-two week low of $15.95 and a fifty-two week high of $23.62. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.89 and a quick ratio of 0.61.

CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings data on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. CAE had a positive return on equity of 5.96% and a negative net margin of 7.38%. CAE’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. On average, equities analysts forecast that CAE Inc. will post 0.86 earnings per share for the current fiscal year.

About CAE

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.