Canadian Pacific Railway Limited (NYSE:CP) Shares Sold by Triangle Securities Wealth Management

Triangle Securities Wealth Management reduced its stake in shares of Canadian Pacific Railway Limited (NYSE:CP – Get Rating) (TSE:CP) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,805 shares of the transportation company’s stock after selling 275 shares during the quarter. Triangle Securities Wealth Management’s holdings in Canadian Pacific Railway were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Canadian Pacific Railway by 3.2% during the third quarter. Vanguard Group Inc. now owns 31,907,941 shares of the transportation company’s stock worth $2,128,897,000 after buying an additional 993,916 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Canadian Pacific Railway by 3.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 31,506,840 shares of the transportation company’s stock valued at $2,102,137,000 after purchasing an additional 1,102,126 shares in the last quarter. FMR LLC lifted its holdings in shares of Canadian Pacific Railway by 2.6% in the second quarter. FMR LLC now owns 30,803,463 shares of the transportation company’s stock valued at $2,151,576,000 after purchasing an additional 793,433 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Canadian Pacific Railway by 26.8% in the third quarter. Bank of Montreal Can now owns 23,729,613 shares of the transportation company’s stock valued at $1,785,454,000 after purchasing an additional 5,020,078 shares in the last quarter. Finally, Pershing Square Capital Management L.P. lifted its holdings in shares of Canadian Pacific Railway by 417.5% in the third quarter. Pershing Square Capital Management L.P. now owns 15,237,044 shares of the transportation company’s stock valued at $1,016,616,000 after purchasing an additional 12,292,785 shares in the last quarter. 72.31% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Railway Trading Down 3.0 %

Shares of CP opened at $77.29 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $71.94 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. The stock’s fifty day simple moving average is $77.58 and its 200 day simple moving average is $75.79. Canadian Pacific Railway Limited has a twelve month low of $65.17 and a twelve month high of $84.22.

Canadian Pacific Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 24th. Investors of record on Friday, March 31st will be given a $0.1424 dividend. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.14. This represents a $0.57 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Thursday, March 30th. Canadian Pacific Railway’s dividend payout ratio (DPR) is 19.44%.

Analyst Upgrades and Downgrades

CP has been the topic of several recent research reports. StockNews.com initiated coverage on shares of Canadian Pacific Railway in a report on Thursday. They issued a “hold” rating on the stock. Atb Cap Markets reaffirmed an “outperform” rating on shares of Canadian Pacific Railway in a report on Tuesday, December 20th. Scotiabank raised shares of Canadian Pacific Railway from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday. Barclays upped their price objective on shares of Canadian Pacific Railway from $86.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, February 7th. Finally, National Bank Financial upped their price objective on shares of Canadian Pacific Railway from C$105.00 to C$106.00 in a research note on Friday, December 16th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Canadian Pacific Railway has a consensus rating of “Moderate Buy” and a consensus price target of $90.00.

About Canadian Pacific Railway

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Canadian Pacific Railway Ltd. operates as a holding company, which engages in the provision of rail services. It offers a suite of freight transportation services, logistics solutions and supply chain expertise. The company was founded in 1881 and is headquartered in Calgary, Canada.