AMP Capital Investors Ltd cut its stake in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,864 shares of the transportation company’s stock after selling 402 shares during the period. AMP Capital Investors Ltd’s holdings in Canadian Pacific Railway were worth $11,891,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlueCrest Capital Management Ltd purchased a new stake in Canadian Pacific Railway during the 4th quarter valued at $207,000. Renaissance Technologies LLC raised its stake in Canadian Pacific Railway by 39.5% during the 4th quarter. Renaissance Technologies LLC now owns 267,800 shares of the transportation company’s stock valued at $48,961,000 after buying an additional 75,799 shares during the last quarter. Precocity Capital LP raised its stake in Canadian Pacific Railway by 100.0% during the 4th quarter. Precocity Capital LP now owns 100,000 shares of the transportation company’s stock valued at $18,276,000 after buying an additional 50,000 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Canadian Pacific Railway by 4.9% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 55,235 shares of the transportation company’s stock worth $10,124,000 after purchasing an additional 2,600 shares in the last quarter. Finally, MML Investors Services LLC increased its stake in shares of Canadian Pacific Railway by 31.2% in the 4th quarter. MML Investors Services LLC now owns 4,785 shares of the transportation company’s stock worth $874,000 after purchasing an additional 1,137 shares in the last quarter. Institutional investors and hedge funds own 69.53% of the company’s stock.
Several equities research analysts have recently commented on the company. Goldman Sachs Group upgraded Canadian Pacific Railway from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $176.72 to $213.00 in a research note on Tuesday, February 13th. Cowen restated an “outperform” rating and issued a $209.00 price objective (up from $207.00) on shares of Canadian Pacific Railway in a research note on Wednesday, February 28th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $200.00 price objective (down from $209.00) on shares of Canadian Pacific Railway in a research note on Thursday, March 8th. One equities research 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 presently 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 for the quarter, missing the consensus estimate of $2.57 by ($0.03). The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. Canadian Pacific Railway had a return on equity of 29.96% and a net margin of 36.88%. analysts expect that Canadian Pacific Railway Limited will post 10.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, March 23rd will be issued a $0.4473 dividend. The ex-dividend date is Thursday, March 22nd. This represents a $1.79 annualized dividend and a yield of 1.00%. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.44. Canadian Pacific Railway’s dividend payout ratio is currently 11.64%.
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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 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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