Canadian Pacific Railway Limited (NYSE:CP) Position Cut by Aviva PLC

Aviva PLC trimmed its stake in Canadian Pacific Railway Limited (NYSE:CPGet Rating) (TSE:CP) by 38.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 172,064 shares of the transportation company’s stock after selling 107,005 shares during the quarter. Aviva PLC’s holdings in Canadian Pacific Railway were worth $14,218,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Column Capital Advisors LLC bought a new stake in shares of Canadian Pacific Railway during the first quarter valued at about $39,000. Rational Advisors LLC bought a new stake in shares of Canadian Pacific Railway during the first quarter valued at about $39,000. Independence Bank of Kentucky bought a new stake in shares of Canadian Pacific Railway during the first quarter valued at about $40,000. Godsey & Gibb Associates bought a new stake in shares of Canadian Pacific Railway during the fourth quarter valued at about $44,000. Finally, Glassman Wealth Services raised its stake in shares of Canadian Pacific Railway by 80.9% during the fourth quarter. Glassman Wealth Services now owns 624 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 279 shares in the last quarter. 72.53% of the stock is currently owned by institutional investors.

Canadian Pacific Railway Trading Up 1.4 %

Shares of CP opened at $76.27 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. Canadian Pacific Railway Limited has a 1-year low of $64.37 and a 1-year high of $84.22. The business’s 50-day moving average price is $76.29 and its 200 day moving average price is $74.74. The stock has a market capitalization of $70.92 billion, a P/E ratio of 33.31, a P/E/G ratio of 2.57 and a beta of 0.96.

Canadian Pacific Railway (NYSE:CPGet Rating) (TSE:CP) last released its earnings results on Thursday, July 28th. The transportation company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.19. Canadian Pacific Railway had a return on equity of 9.74% and a net margin of 29.38%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the business posted $0.84 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts expect that Canadian Pacific Railway Limited will post 2.9 earnings per share for the current year.

Canadian Pacific Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.148 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.59 annualized dividend and a yield of 0.78%. Canadian Pacific Railway’s dividend payout ratio (DPR) is presently 25.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CP shares. Susquehanna Bancshares cut their price objective on shares of Canadian Pacific Railway from $91.00 to $84.00 in a research note on Wednesday, July 6th. Evercore ISI lifted their target price on Canadian Pacific Railway from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Tuesday, July 12th. Wells Fargo & Company lowered their target price on Canadian Pacific Railway from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, July 15th. Scotiabank lowered Canadian Pacific Railway from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, July 7th. Finally, StockNews.com raised Canadian Pacific Railway from a “sell” rating to a “hold” rating in a report on Tuesday, June 21st. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Canadian Pacific Railway presently has a consensus rating of “Moderate Buy” and an average price target of $90.13.

Canadian Pacific Railway Profile

(Get Rating)

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.

See Also

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

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