Canadian Pacific Railway Ltd (NYSE:CP) Position Reduced by M&T Bank Corp

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M&T Bank Corp reduced its stake in shares of Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) by 2.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 41,661 shares of the transportation company’s stock after selling 1,213 shares during the quarter. M&T Bank Corp’s holdings in Canadian Pacific Railway were worth $10,638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intact Investment Management Inc. increased its holdings in shares of Canadian Pacific Railway by 16.8% in the 2nd quarter. Intact Investment Management Inc. now owns 95,900 shares of the transportation company’s stock valued at $33,086,000 after acquiring an additional 13,800 shares during the last quarter. GWM Advisors LLC boosted its holdings in Canadian Pacific Railway by 17.7% in the second quarter. GWM Advisors LLC now owns 1,215 shares of the transportation company’s stock worth $310,000 after purchasing an additional 183 shares during the period. CIBC Asset Management Inc increased its stake in Canadian Pacific Railway by 9.1% during the second quarter. CIBC Asset Management Inc now owns 1,568,530 shares of the transportation company’s stock valued at $397,730,000 after purchasing an additional 130,514 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Canadian Pacific Railway by 5.9% during the second quarter. Raymond James & Associates now owns 17,513 shares of the transportation company’s stock worth $4,455,000 after purchasing an additional 977 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Canadian Pacific Railway by 21.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 2,872 shares of the transportation company’s stock worth $733,000 after buying an additional 501 shares during the last quarter. 69.44% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on the stock. Deutsche Bank boosted their price objective on shares of Canadian Pacific Railway from $271.00 to $302.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. UBS Group increased their price target on Canadian Pacific Railway from $341.00 to $387.00 and gave the stock a “buy” rating in a research report on Friday, June 19th. Citigroup raised their price target on Canadian Pacific Railway from $215.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. CIBC upped their price objective on Canadian Pacific Railway from $370.00 to $410.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Finally, Veritas Investment Research lowered Canadian Pacific Railway from a “buy” rating to a “sell” rating in a research report on Wednesday, April 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. Canadian Pacific Railway presently has a consensus rating of “Buy” and a consensus price target of $327.38.

Shares of NYSE CP opened at $275.18 on Friday. Canadian Pacific Railway Ltd has a 1 year low of $173.26 and a 1 year high of $280.76. The firm has a market cap of $37.29 billion, a P/E ratio of 21.84, a PEG ratio of 2.67 and a beta of 0.95. The stock has a fifty day moving average price of $260.06 and a two-hundred day moving average price of $244.99. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.70 and a current ratio of 0.81.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $4.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $1.32. Canadian Pacific Railway had a return on equity of 34.28% and a net margin of 29.48%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the firm posted $4.30 earnings per share. The company’s revenue was down 9.5% on a year-over-year basis. On average, research analysts predict that Canadian Pacific Railway Ltd will post 12.89 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be issued a $0.7065 dividend. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.59. This represents a $2.83 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Thursday, September 24th. Canadian Pacific Railway’s payout ratio is presently 19.69%.

About Canadian Pacific Railway

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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Institutional Ownership by Quarter for Canadian Pacific Railway (NYSE:CP)

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