Eagle Global Advisors LLC Reduces Position in Canadian Pacific Railway Limited (CP)

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Eagle Global Advisors LLC trimmed its position in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 3.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,063 shares of the transportation company’s stock after selling 1,500 shares during the quarter. Eagle Global Advisors LLC’s holdings in Canadian Pacific Railway were worth $7,471,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CP. WCM Investment Management CA grew its holdings in Canadian Pacific Railway by 8.0% in the 3rd quarter. WCM Investment Management CA now owns 4,693,885 shares of the transportation company’s stock valued at $994,823,000 after buying an additional 348,114 shares in the last quarter. Morgan Stanley grew its holdings in Canadian Pacific Railway by 37.9% in the 3rd quarter. Morgan Stanley now owns 1,001,502 shares of the transportation company’s stock valued at $212,259,000 after buying an additional 275,335 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Canadian Pacific Railway by 16.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,358,353 shares of the transportation company’s stock valued at $287,129,000 after buying an additional 190,245 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Canadian Pacific Railway by 101.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 239,500 shares of the transportation company’s stock valued at $50,745,000 after buying an additional 120,900 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Canadian Pacific Railway by 43.0% during the 3rd quarter. Clearbridge Investments LLC now owns 321,890 shares of the transportation company’s stock worth $68,221,000 after purchasing an additional 96,736 shares during the period. Hedge funds and other institutional investors own 67.57% of the company’s stock.

CP traded down $2.08 during mid-day trading on Thursday, hitting $204.37. 18,614 shares of the stock were exchanged, compared to its average volume of 591,869. Canadian Pacific Railway Limited has a 1-year low of $166.36 and a 1-year high of $224.19. 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 cap of $28.84 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.53 and a beta of 1.04.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, January 23rd. The transportation company reported $4.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.18 by $1.37. Canadian Pacific Railway had a return on equity of 30.69% and a net margin of 26.62%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the company earned $3.22 EPS. Canadian Pacific Railway’s revenue was up 17.1% on a year-over-year basis. On average, research analysts forecast that Canadian Pacific Railway Limited will post 11.97 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, January 28th. Investors of record on Friday, December 28th were paid a dividend of $0.489 per share. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, December 27th. This represents a $1.96 annualized dividend and a yield of 0.96%. Canadian Pacific Railway’s dividend payout ratio is presently 17.05%.

CP has been the subject of a number of research analyst reports. Zacks Investment Research cut Canadian Pacific Railway from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Citigroup reiterated a “buy” rating and set a $260.00 price target (up from $242.00) on shares of Canadian Pacific Railway in a report on Friday, October 5th. National Bank Financial upgraded Canadian Pacific Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 18th. Credit Suisse Group lowered their price target on Canadian Pacific Railway from $243.00 to $224.00 and set an “outperform” rating for the company in a report on Monday, January 7th. Finally, Stifel Nicolaus increased their price target on Canadian Pacific Railway from $207.00 to $247.00 and gave the stock a “hold” rating in a report on Sunday, October 7th. Two equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $232.43.

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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 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.

Read More: Stock Symbol

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

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