Quilter Plc lessened its holdings in Canadian Pacific Railway Limited (NYSE:CP – Get Rating) (TSE:CP) by 8.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,570 shares of the transportation company’s stock after selling 230 shares during the quarter. Quilter Plc’s holdings in Canadian Pacific Railway were worth $212,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of CP. Panagora Asset Management Inc. acquired a new position in Canadian Pacific Railway in the 4th quarter worth approximately $970,000. Qube Research & Technologies Ltd grew its stake in shares of Canadian Pacific Railway by 193.3% during the 4th quarter. Qube Research & Technologies Ltd now owns 85,585 shares of the transportation company’s stock worth $6,157,000 after purchasing an additional 56,406 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Canadian Pacific Railway by 16.8% during the 4th quarter. JPMorgan Chase & Co. now owns 4,169,363 shares of the transportation company’s stock worth $299,944,000 after purchasing an additional 600,431 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Canadian Pacific Railway during the 4th quarter worth approximately $238,000. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of Canadian Pacific Railway by 18.3% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 26,259 shares of the transportation company’s stock worth $1,891,000 after purchasing an additional 4,056 shares during the period. Institutional investors and hedge funds own 72.53% of the company’s stock.
Canadian Pacific Railway Trading Down 0.5 %
Shares of CP stock opened at $77.17 on Thursday. The stock’s fifty day moving average is $76.73 and its two-hundred day moving average is $74.95. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.50. The firm has a market capitalization of $71.77 billion, a P/E ratio of 33.70, a PEG ratio of 2.74 and a beta of 0.96. Canadian Pacific Railway Limited has a fifty-two week low of $64.37 and a fifty-two week high of $84.22.
Canadian Pacific Railway Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a dividend of $0.148 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.59 annualized dividend and a dividend yield of 0.77%. Canadian Pacific Railway’s dividend payout ratio is presently 25.76%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on CP shares. Barclays dropped their price objective on shares of Canadian Pacific Railway from $90.00 to $86.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Susquehanna dropped their price objective on shares of Canadian Pacific Railway from $91.00 to $84.00 in a research note on Wednesday, July 6th. National Bank Financial raised their price objective on shares of Canadian Pacific Railway from C$93.00 to C$98.00 in a research note on Friday, July 29th. Citigroup dropped their price objective on shares of Canadian Pacific Railway from $84.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. Finally, Bank of America upgraded Canadian Pacific Railway from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $87.00 in a research report on Monday. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.50.
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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