Diligent Investors LLC held its position in Canadian Pacific Railway Ltd. (NYSE:CP) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,633 shares of the company’s stock at the end of the second quarter. Canadian Pacific Railway comprises about 1.1% of Diligent Investors LLC’s holdings, making the stock its 27th largest position. Diligent Investors LLC’s holdings in Canadian Pacific Railway were worth $1,112,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of CP. Advisory Services Network LLC purchased a new position in Canadian Pacific Railway during the second quarter worth approximately $105,000. Zions Bancorporation raised its position in Canadian Pacific Railway by 83.0% in the first quarter. Zions Bancorporation now owns 1,054 shares of the company’s stock worth $142,000 after buying an additional 478 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in Canadian Pacific Railway during the first quarter worth approximately $179,000. IFP Advisors Inc raised its position in Canadian Pacific Railway by 28.9% in the first quarter. IFP Advisors Inc now owns 1,360 shares of the company’s stock worth $180,000 after buying an additional 305 shares during the period. Finally, Barnett & Company Inc. purchased a new position in Canadian Pacific Railway during the first quarter worth approximately $186,000. Hedge funds and other institutional investors own 68.21% of the company’s stock.
Shares of Canadian Pacific Railway Ltd. (NYSE:CP) traded down 0.69% during trading on Tuesday, reaching $151.79. 274,313 shares of the company were exchanged. The firm’s 50 day moving average is $150.66 and its 200 day moving average is $140.37. Canadian Pacific Railway Ltd. has a 1-year low of $97.09 and a 1-year high of $157.82. The firm has a market capitalization of $22.43 billion, a P/E ratio of 20.51 and a beta of 1.32.
Canadian Pacific Railway (NYSE:CP) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by $0.45. The company earned $1.45 billion during the quarter, compared to the consensus estimate of $1.57 billion. Canadian Pacific Railway had a return on equity of 32.47% and a net margin of 23.36%. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.45 earnings per share. On average, equities analysts anticipate that Canadian Pacific Railway Ltd. will post $8.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Friday, September 30th will be given a $0.3858 dividend. The ex-dividend date is Wednesday, September 28th. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.27. This represents a $1.54 dividend on an annualized basis and a yield of 1.01%. Canadian Pacific Railway’s dividend payout ratio (DPR) is currently 20.82%.
A number of equities analysts have recently commented on CP shares. Desjardins upgraded shares of Canadian Pacific Railway from a “hold” rating to a “buy” rating and cut their price objective for the company from $204.00 to $195.00 in a research report on Wednesday, June 22nd. Citigroup Inc. reiterated a “buy” rating and set a $170.00 target price on shares of Canadian Pacific Railway in a research report on Saturday, June 18th. Buckingham Research reiterated a “buy” rating and set a $157.00 target price (down from $165.00) on shares of Canadian Pacific Railway in a research report on Friday, July 1st. Argus started coverage on shares of Canadian Pacific Railway in a research report on Thursday, June 30th. They set a “buy” rating and a $155.00 target price for the company. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $172.00 target price on shares of Canadian Pacific Railway in a research report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Canadian Pacific Railway presently has an average rating of “Buy” and an average price target of $177.89.
In related news, Director Pershing Square Capital Manage sold 9,840,890 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $141.68, for a total value of $1,394,257,295.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by corporate insiders.
About Canadian Pacific Railway
Canadian Pacific Railway Limited (CP), together with its subsidiaries, operates a transcontinental railway in Canada and the United States. The Company operates in rail transportation segment. The Company’s business mix includes bulk commodities, merchandise freight and intermodal traffic over a network of approximately 12,500 miles, serving the principal business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the United States Northeast and Midwest regions.
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