Balentine LLC reduced its position in Canadian Pacific Railway Limited (NYSE:CP – Get Rating) (TSE:CP) by 7.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,127 shares of the transportation company’s stock after selling 242 shares during the period. Balentine LLC’s holdings in Canadian Pacific Railway were worth $209,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. Hexagon Capital Partners LLC lifted its holdings in shares of Canadian Pacific Railway by 57.3% during the third quarter. Hexagon Capital Partners LLC now owns 453 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 165 shares in the last quarter. Pacifica Partners Inc. lifted its stake in Canadian Pacific Railway by 102.8% during the 3rd quarter. Pacifica Partners Inc. now owns 515 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 261 shares during the period. Sugarloaf Wealth Management LLC purchased a new stake in shares of Canadian Pacific Railway during the 2nd quarter valued at about $37,000. CX Institutional bought a new stake in shares of Canadian Pacific Railway in the second quarter worth approximately $45,000. Finally, Eagle Bay Advisors LLC bought a new position in Canadian Pacific Railway during the second quarter valued at approximately $45,000. 72.31% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CP has been the subject of a number of research reports. Barclays boosted their target price on shares of Canadian Pacific Railway from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Thursday, October 27th. Credit Suisse Group cut their target price on shares of Canadian Pacific Railway from $88.00 to $78.00 in a research report on Tuesday, October 11th. Deutsche Bank Aktiengesellschaft raised shares of Canadian Pacific Railway from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $98.00 in a research report on Monday, November 28th. Atb Cap Markets reaffirmed an “outperform” rating on shares of Canadian Pacific Railway in a report on Tuesday, December 20th. Finally, Stifel Nicolaus cut their price target on Canadian Pacific Railway from $79.00 to $75.00 and set a “hold” rating for the company in a report on Monday, October 17th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Canadian Pacific Railway has an average rating of “Moderate Buy” and a consensus price target of $88.87.
Canadian Pacific Railway Price Performance
Canadian Pacific Railway (NYSE:CP – Get Rating) (TSE:CP) last announced its earnings results on Wednesday, October 26th. The transportation company reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Canadian Pacific Railway had a net margin of 33.05% and a return on equity of 8.77%. Analysts anticipate that Canadian Pacific Railway Limited will post 2.7 earnings per share for the current fiscal year.
Canadian Pacific Railway Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Friday, December 30th will be issued a $0.137 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, December 29th. Canadian Pacific Railway’s dividend payout ratio (DPR) is 22.67%.
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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