Pictet Asset Management Ltd. Invests $10.48 Million in Canadian Pacific Railway Limited (CP)

Pictet Asset Management Ltd. bought a new position in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 49,576 shares of the transportation company’s stock, valued at approximately $10,479,000.

Several other hedge funds have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Canadian Pacific Railway by 4.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,603 shares of the transportation company’s stock valued at $6,680,000 after acquiring an additional 1,475 shares in the last quarter. FMR LLC lifted its position in Canadian Pacific Railway by 1.5% in the 3rd quarter. FMR LLC now owns 1,245,056 shares of the transportation company’s stock valued at $263,373,000 after acquiring an additional 18,445 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Canadian Pacific Railway by 12.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 16,693 shares of the transportation company’s stock valued at $3,538,000 after acquiring an additional 1,868 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in Canadian Pacific Railway by 49,286.4% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 54,325 shares of the transportation company’s stock valued at $11,494,000 after acquiring an additional 54,215 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Canadian Pacific Railway by 5.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 460,471 shares of the transportation company’s stock valued at $97,592,000 after acquiring an additional 24,114 shares in the last quarter. Hedge funds and other institutional investors own 67.31% of the company’s stock.

NYSE CP opened at $189.28 on Friday. The firm has a market cap of $27.90 billion, a PE ratio of 21.56, a PEG ratio of 1.39 and a beta of 0.91. The company has a current ratio of 0.68, a quick ratio of 0.58 and a debt-to-equity ratio of 1.10. Canadian Pacific Railway Limited has a 1-year low of $166.36 and a 1-year high of $224.19.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Thursday, October 18th. The transportation company reported $4.12 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.96. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Canadian Pacific Railway had a return on equity of 28.71% and a net margin of 34.07%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 EPS. As a group, analysts forecast that Canadian Pacific Railway Limited will post 10.82 EPS for the current fiscal year.

Several research firms have recently weighed in on CP. BMO Capital Markets reissued a “buy” rating and set a $260.00 price target (up from $242.00) on shares of Canadian Pacific Railway in a report on Monday, October 8th. Cowen increased their price target on Canadian Pacific Railway from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Monday, October 8th. Stephens set a $236.00 price target on Canadian Pacific Railway and gave the company a “hold” rating in a report on Friday, October 19th. Credit Suisse Group increased their price target on Canadian Pacific Railway from $216.00 to $255.00 and gave the company an “outperform” rating in a report on Friday, October 5th. Finally, Bank of America increased their price target on Canadian Pacific Railway from $213.00 to $233.00 and gave the company a “buy” rating in a report on Monday, October 1st. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $237.15.

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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 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.

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

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