We Are One Seven LLC decreased its position in shares of Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) by 20.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,370 shares of the transportation company’s stock after selling 343 shares during the quarter. We Are One Seven LLC’s holdings in Canadian Pacific Railway were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Veritas Asset Management LLP bought a new position in Canadian Pacific Railway during the second quarter worth about $410,776,000. Egerton Capital UK LLP increased its stake in Canadian Pacific Railway by 14.1% in the 2nd quarter. Egerton Capital UK LLP now owns 3,876,127 shares of the transportation company’s stock valued at $911,820,000 after buying an additional 480,354 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Canadian Pacific Railway by 776.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 350,544 shares of the transportation company’s stock valued at $82,478,000 after buying an additional 310,544 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Canadian Pacific Railway by 24.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,274,841 shares of the transportation company’s stock valued at $298,478,000 after buying an additional 252,451 shares during the last quarter. Finally, National Pension Service purchased a new stake in shares of Canadian Pacific Railway during the 2nd quarter worth approximately $62,977,000. 68.02% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the stock. TheStreet downgraded shares of Canadian Pacific Railway from a “b+” rating to a “c” rating in a research note on Tuesday, July 16th. Raymond James cut Canadian Pacific Railway from a “strong-buy” rating to an “outperform” rating in a research report on Monday, July 15th. Deutsche Bank raised their price target on Canadian Pacific Railway from $230.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. UBS Group dropped their price target on Canadian Pacific Railway from $349.00 to $346.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Finally, ValuEngine cut Canadian Pacific Railway from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $260.73.
Canadian Pacific Railway (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Tuesday, July 16th. The transportation company reported $4.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.19 by $1.11. Canadian Pacific Railway had a return on equity of 32.03% and a net margin of 30.40%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the business posted $3.16 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, research analysts anticipate that Canadian Pacific Railway Ltd will post 12.49 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be paid a $0.634 dividend. This is a boost from Canadian Pacific Railway’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.54 annualized dividend and a dividend yield of 1.17%. Canadian Pacific Railway’s dividend payout ratio is presently 22.41%.
Canadian Pacific Railway Profile
Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.
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