Lateef Investment Management L.P. lessened its holdings in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 21.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 140,538 shares of the transportation company’s stock after selling 39,245 shares during the period. Canadian Pacific Railway makes up about 2.4% of Lateef Investment Management L.P.’s investment portfolio, making the stock its 18th largest position. Lateef Investment Management L.P. owned about 0.10% of Canadian Pacific Railway worth $25,685,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mackenzie Financial Corp boosted its stake in Canadian Pacific Railway by 92.6% during the fourth quarter. Mackenzie Financial Corp now owns 2,596,564 shares of the transportation company’s stock worth $474,548,000 after buying an additional 1,248,344 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Canadian Pacific Railway by 145.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 853,862 shares of the transportation company’s stock worth $156,050,000 after buying an additional 506,420 shares during the period. CIBC Asset Management Inc boosted its stake in Canadian Pacific Railway by 22.2% during the third quarter. CIBC Asset Management Inc now owns 2,678,780 shares of the transportation company’s stock worth $448,756,000 after buying an additional 486,845 shares during the period. Egerton Capital UK LLP boosted its stake in Canadian Pacific Railway by 37.6% during the fourth quarter. Egerton Capital UK LLP now owns 1,535,632 shares of the transportation company’s stock worth $280,652,000 after buying an additional 419,905 shares during the period. Finally, Mawer Investment Management Ltd. boosted its stake in Canadian Pacific Railway by 23.8% during the third quarter. Mawer Investment Management Ltd. now owns 1,213,962 shares of the transportation company’s stock worth $204,020,000 after buying an additional 233,468 shares during the period. Institutional investors own 69.53% of the company’s stock.
Several research analysts have commented on CP shares. Goldman Sachs Group started coverage on shares of Canadian Pacific Railway in a research note on Monday, November 13th. They set a “neutral” rating and a $178.00 price objective for the company. Cowen lifted their price objective on shares of Canadian Pacific Railway from $184.00 to $207.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $200.00 price objective (down from $209.00) on shares of Canadian Pacific Railway in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company’s stock. Canadian Pacific Railway currently has a consensus rating of “Buy” and a consensus price target of $194.13.
Canadian Pacific Railway (NYSE:CP) (TSE:CP) last issued its earnings results on Thursday, January 18th. The transportation company reported $2.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.57 by ($0.03). The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Canadian Pacific Railway had a net margin of 36.88% and a return on equity of 29.96%. sell-side analysts predict that Canadian Pacific Railway Limited will post 10.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 23rd will be paid a dividend of $0.4473 per share. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.44. This represents a $1.79 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Thursday, March 22nd. Canadian Pacific Railway’s payout ratio is currently 11.61%.
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Canadian Pacific Railway Profile
Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The Company operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.
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