Fmr LLC reduced its holdings in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 80.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,226,611 shares of the transportation company’s stock after selling 5,057,976 shares during the period. Fmr LLC owned approximately 0.86% of Canadian Pacific Railway worth $224,787,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Canadian Pacific Railway during the second quarter valued at approximately $103,000. Zions Bancorporation bought a new stake in shares of Canadian Pacific Railway during the second quarter valued at approximately $134,000. Sawtooth Solutions LLC bought a new stake in shares of Canadian Pacific Railway during the second quarter valued at approximately $207,000. Raymond James Trust N.A. bought a new stake in shares of Canadian Pacific Railway during the second quarter valued at approximately $210,000. Finally, ARP Americas LP bought a new stake in shares of Canadian Pacific Railway during the second quarter valued at approximately $220,000. 65.41% of the stock is currently owned by institutional investors.
Shares of CP stock opened at $205.04 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.58 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $28.93 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.44 and a beta of 1.07. Canadian Pacific Railway Limited has a one year low of $166.36 and a one year high of $224.19.
Canadian Pacific Railway (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Thursday, October 18th. The transportation company reported $4.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.16 by $0.96. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Canadian Pacific Railway had a return on equity of 28.71% and a net margin of 34.07%. Canadian Pacific Railway’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.90 EPS. Research analysts expect that Canadian Pacific Railway Limited will post 10.84 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 29th. Investors of record on Friday, September 28th were paid a $0.4999 dividend. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, September 27th. This represents a $2.00 annualized dividend and a yield of 0.98%. Canadian Pacific Railway’s payout ratio is currently 22.89%.
A number of analysts have recently issued reports on CP shares. Raymond James upgraded Canadian Pacific Railway from an “outperform” rating to a “strong-buy” rating in a research report on Monday, July 9th. Deutsche Bank cut Canadian Pacific Railway to a “buy” rating in a research report on Monday, July 9th. Zacks Investment Research cut Canadian Pacific Railway from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Loop Capital restated a “buy” rating on shares of Canadian Pacific Railway in a research report on Thursday, July 19th. Finally, Stifel Nicolaus boosted their price objective on Canadian Pacific Railway from $200.00 to $207.00 and gave the company a “hold” rating in a research report on Thursday, July 19th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $236.92.
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 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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