Canadian Pacific Railway (CP) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its position in shares of Canadian Pacific Railway (NYSE:CP) (TSE:CP) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,749 shares of the transportation company’s stock after selling 973 shares during the period. M&T Bank Corp’s holdings in Canadian Pacific Railway were worth $6,839,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CP. WCM Investment Management CA raised its position in shares of Canadian Pacific Railway by 6.0% during the fourth quarter. WCM Investment Management CA now owns 4,041,290 shares of the transportation company’s stock valued at $738,586,000 after buying an additional 229,410 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of 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 valued at $474,548,000 after buying an additional 1,248,344 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Canadian Pacific Railway by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 2,220,581 shares of the transportation company’s stock valued at $405,853,000 after buying an additional 13,407 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Canadian Pacific Railway by 9.3% during the first quarter. CIBC Asset Management Inc now owns 2,081,451 shares of the transportation company’s stock valued at $366,504,000 after buying an additional 177,830 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Canadian Pacific Railway by 15.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,712,257 shares of the transportation company’s stock valued at $312,932,000 after buying an additional 223,032 shares during the last quarter. 69.00% of the stock is owned by hedge funds and other institutional investors.

CP has been the subject of a number of research analyst reports. Cowen reaffirmed a “buy” rating and set a $208.00 price objective on shares of Canadian Pacific Railway in a research report on Thursday, April 19th. Credit Suisse Group reaffirmed an “outperform” rating and set a $200.00 price objective (down previously from $209.00) on shares of Canadian Pacific Railway in a research report on Thursday, March 8th. Zacks Investment Research lowered shares of Canadian Pacific Railway from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. Goldman Sachs raised shares of Canadian Pacific Railway from a “neutral” rating to a “buy” rating and upped their price objective for the company from $176.72 to $213.00 in a research report on Tuesday, February 13th. Finally, Morgan Stanley cut their price objective on shares of Canadian Pacific Railway from $248.00 to $243.00 and set an “overweight” rating for the company in a research report on Friday, April 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Canadian Pacific Railway has a consensus rating of “Buy” and a consensus target price of $203.38.

Canadian Pacific Railway opened at $186.48 on Friday, according to Marketbeat. The stock has a market capitalization of $26.66 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04. Canadian Pacific Railway has a twelve month low of $186.18 and a twelve month high of $187.80. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 1.18.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, April 18th. The transportation company reported $2.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.16 by $0.54. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Canadian Pacific Railway had a net margin of 35.18% and a return on equity of 28.51%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.50 earnings per share. research analysts anticipate that Canadian Pacific Railway will post 10.31 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 30th. Investors of record on Friday, June 29th will be paid a $0.438 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.75 dividend on an annualized basis and a yield of 0.94%. Canadian Pacific Railway’s payout ratio is currently 19.93%.

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 finished vehicles and machineries, automotive parts, chemicals and plastics, petroleum and crude products, and metals and minerals, as well as forest, industrial, and consumer products.

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

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