First Mercantile Trust Co. lessened its holdings in shares of Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) by 11.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,320 shares of the transportation company’s stock after selling 545 shares during the quarter. First Mercantile Trust Co.’s holdings in Canadian Pacific Railway were worth $961,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. WINTON GROUP Ltd raised its stake in shares of Canadian Pacific Railway by 5.1% in the 2nd quarter. WINTON GROUP Ltd now owns 83,381 shares of the transportation company’s stock worth $19,615,000 after buying an additional 4,066 shares in the last quarter. Capital Insight Partners LLC raised its stake in shares of Canadian Pacific Railway by 2.6% in the 2nd quarter. Capital Insight Partners LLC now owns 3,752 shares of the transportation company’s stock worth $883,000 after buying an additional 96 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of Canadian Pacific Railway during the second quarter worth $244,000. Zweig DiMenna Associates LLC acquired a new stake in shares of Canadian Pacific Railway during the second quarter worth $5,811,000. Finally, First Hawaiian Bank raised its position in shares of Canadian Pacific Railway by 39.0% during the second quarter. First Hawaiian Bank now owns 994 shares of the transportation company’s stock worth $234,000 after purchasing an additional 279 shares during the period. Institutional investors own 68.53% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Deutsche Bank boosted their target price on Canadian Pacific Railway from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Raymond James reaffirmed an “outperform” rating and set a $340.00 target price on shares of Canadian Pacific Railway in a research report on Thursday, October 24th. Cowen reaffirmed a “buy” rating and set a $258.00 target price on shares of Canadian Pacific Railway in a research report on Tuesday, July 16th. Royal Bank of Canada cut their target price on Canadian Pacific Railway from $378.00 to $355.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Loop Capital raised Canadian Pacific Railway from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $272.12.
NYSE:CP traded up $1.98 during trading hours on Thursday, hitting $237.19. 1,688 shares of the company’s stock traded hands, compared to its average volume of 421,754. The firm has a market cap of $32.75 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.71 and a beta of 1.11. Canadian Pacific Railway Ltd has a twelve month low of $167.48 and a twelve month high of $247.52. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.48 and a current ratio of 0.57. The stock’s fifty day moving average price is $222.19 and its two-hundred day moving average price is $229.50.
Canadian Pacific Railway (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $4.61 earnings per share for the quarter, beating the consensus estimate of $3.41 by $1.20. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.99 billion. Canadian Pacific Railway had a return on equity of 32.62% and a net margin of 30.02%. Canadian Pacific Railway’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.12 earnings per share. On average, equities research analysts predict that Canadian Pacific Railway Ltd will post 12.43 earnings per share for the current year.
Canadian Pacific Railway Company 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 energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.
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