Hexavest Inc. Sells 23,944 Shares of Canadian Pacific Railway Ltd (NYSE:CP)

Hexavest Inc. reduced its position in Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) by 88.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,013 shares of the transportation company’s stock after selling 23,944 shares during the quarter. Hexavest Inc.’s holdings in Canadian Pacific Railway were worth $914,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. WCM Investment Management LLC boosted its stake in shares of Canadian Pacific Railway by 3.8% in the 2nd quarter. WCM Investment Management LLC now owns 5,976,989 shares of the transportation company’s stock valued at $1,526,165,000 after purchasing an additional 216,960 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Canadian Pacific Railway by 2.1% during the second quarter. TD Asset Management Inc. now owns 3,755,922 shares of the transportation company’s stock valued at $952,357,000 after purchasing an additional 76,588 shares during the period. FMR LLC raised its holdings in shares of Canadian Pacific Railway by 19.4% during the second quarter. FMR LLC now owns 3,017,263 shares of the transportation company’s stock valued at $767,472,000 after purchasing an additional 490,263 shares during the period. Lone Pine Capital LLC boosted its position in shares of Canadian Pacific Railway by 21.9% during the 1st quarter. Lone Pine Capital LLC now owns 2,279,058 shares of the transportation company’s stock worth $500,458,000 after purchasing an additional 408,973 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Canadian Pacific Railway by 3.3% in the 1st quarter. 1832 Asset Management L.P. now owns 2,156,930 shares of the transportation company’s stock valued at $472,787,000 after buying an additional 69,672 shares during the period. 71.68% of the stock is currently owned by institutional investors.

Canadian Pacific Railway stock opened at $322.06 on Thursday. Canadian Pacific Railway Ltd has a 12 month low of $173.26 and a 12 month high of $322.98. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 1.27. The business’s 50 day simple moving average is $301.17 and its 200 day simple moving average is $263.23. The company has a market cap of $42.62 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 2.83 and a beta of 0.91.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $4.07 EPS for the quarter, beating the 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 for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the business earned $4.30 earnings per share. Canadian Pacific Railway’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, equities research analysts forecast that Canadian Pacific Railway Ltd will post 13.2 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be paid a $0.7065 dividend. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, September 24th. This represents a $2.83 annualized dividend and a yield of 0.88%. Canadian Pacific Railway’s dividend payout ratio is presently 22.92%.

A number of brokerages recently commented on CP. Barclays boosted their target price on Canadian Pacific Railway from $239.00 to $257.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. They noted that the move was a valuation call. BMO Capital Markets boosted their target price on Canadian Pacific Railway from $420.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Benchmark boosted their target price on Canadian Pacific Railway from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Citigroup boosted their target price on Canadian Pacific Railway from $215.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Finally, Raymond James raised Canadian Pacific Railway from a “market perform” rating to an “outperform” rating in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $341.71.

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

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