Russell Investments Group Ltd. cut its holdings in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 26.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 213,722 shares of the transportation company’s stock after selling 76,084 shares during the period. Russell Investments Group Ltd. owned 0.15% of Canadian Pacific Railway worth $35,818,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its stake in shares of Canadian Pacific Railway by 62,170.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 934,062 shares of the transportation company’s stock valued at $150,200,000 after purchasing an additional 932,562 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Canadian Pacific Railway during the second quarter worth about $108,548,000. CIBC Asset Management Inc boosted its stake in Canadian Pacific Railway by 31.7% during the second quarter. CIBC Asset Management Inc now owns 2,191,935 shares of the transportation company’s stock worth $352,265,000 after acquiring an additional 527,453 shares in the last quarter. WCM Investment Management CA boosted its stake in Canadian Pacific Railway by 6.4% during the second quarter. WCM Investment Management CA now owns 3,732,988 shares of the transportation company’s stock worth $600,302,000 after acquiring an additional 223,142 shares in the last quarter. Finally, TD Asset Management Inc. boosted its stake in Canadian Pacific Railway by 6.0% during the second quarter. TD Asset Management Inc. now owns 3,719,943 shares of the transportation company’s stock worth $597,654,000 after acquiring an additional 212,179 shares in the last quarter. 67.56% of the stock is owned by hedge funds and other institutional investors.
Shares of Canadian Pacific Railway Limited (NYSE:CP) traded up $1.83 during trading hours on Thursday, reaching $176.93. 535,243 shares of the company’s stock were exchanged, compared to its average volume of 652,383. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.53 and a quick ratio of 0.44. The stock has a market capitalization of $25,304.02, a price-to-earnings ratio of 20.42, a PEG ratio of 1.66 and a beta of 1.20. Canadian Pacific Railway Limited has a one year low of $141.32 and a one year high of $180.34.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Friday, December 29th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.99%. Canadian Pacific Railway’s payout ratio is 18.62%.
Several research firms have recently weighed in on CP. National Bank Financial cut shares of Canadian Pacific Railway from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $219.00 to $207.00 in a report on Wednesday, September 13th. Zacks Investment Research lowered shares of Canadian Pacific Railway from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Argus upped their price target on shares of Canadian Pacific Railway from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Goldman Sachs Group initiated coverage on shares of Canadian Pacific Railway in a research report on Monday, November 13th. They set a “neutral” rating and a $178.00 target price for the company. Finally, BMO Capital Markets reiterated a “buy” rating and set a $238.00 price objective on shares of Canadian Pacific Railway in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $191.19.
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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 operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.
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