Creative Planning boosted its holdings in Canadian Pacific Railway Limited (NYSE:CP – Get Rating) (TSE:CP) by 39.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 221,215 shares of the transportation company’s stock after buying an additional 62,030 shares during the quarter. Creative Planning’s holdings in Canadian Pacific Railway were worth $15,450,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital World Investors boosted its holdings in shares of Canadian Pacific Railway by 95,066.2% in the 1st quarter. Capital World Investors now owns 14,983,923 shares of the transportation company’s stock valued at $1,236,769,000 after buying an additional 14,968,178 shares in the last quarter. Parnassus Investments LLC increased its position in shares of Canadian Pacific Railway by 108.8% during the first quarter. Parnassus Investments LLC now owns 13,207,551 shares of the transportation company’s stock worth $1,090,151,000 after purchasing an additional 6,881,633 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Canadian Pacific Railway by 1,151.2% in the 1st quarter. Wellington Management Group LLP now owns 7,157,741 shares of the transportation company’s stock valued at $591,239,000 after purchasing an additional 6,585,655 shares during the last quarter. Bishop Rock Capital L.P. boosted its position in shares of Canadian Pacific Railway by 3,605.8% in the 2nd quarter. Bishop Rock Capital L.P. now owns 5,442,213 shares of the transportation company’s stock valued at $77,602,000 after purchasing an additional 5,295,358 shares during the period. Finally, Nomura Holdings Inc. grew its stake in Canadian Pacific Railway by 46.2% during the 1st quarter. Nomura Holdings Inc. now owns 12,153,216 shares of the transportation company’s stock worth $950,238,000 after buying an additional 3,840,728 shares during the last quarter. 72.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on CP. Scotiabank raised their target price on shares of Canadian Pacific Railway from C$100.00 to C$102.00 in a research report on Thursday, October 27th. Stephens boosted their target price on Canadian Pacific Railway from $73.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 27th. Wells Fargo & Company raised their price target on Canadian Pacific Railway from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, October 27th. Barclays increased their price objective on shares of Canadian Pacific Railway from $77.00 to $81.00 and gave the company an “overweight” rating in a research note on Thursday, October 27th. Finally, Susquehanna Bancshares lowered their price target on shares of Canadian Pacific Railway from $84.00 to $79.00 and set a “positive” rating on the stock in a research report on Wednesday, September 28th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Pacific Railway presently has a consensus rating of “Moderate Buy” and an average price target of $85.86.
Canadian Pacific Railway Stock Up 1.6 %
Canadian Pacific Railway (NYSE:CP – Get Rating) (TSE:CP) last announced its quarterly earnings results on Wednesday, October 26th. The transportation company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. Canadian Pacific Railway had a net margin of 33.05% and a return on equity of 8.77%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Equities analysts forecast that Canadian Pacific Railway Limited will post 2.79 earnings per share for the current year.
Canadian Pacific Railway Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 30th. Shareholders of record on Friday, December 30th will be paid a dividend of $0.137 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, December 29th. Canadian Pacific Railway’s dividend payout ratio is presently 22.27%.
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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