Scheer Rowlett & Associates Investment Management Ltd. Trims Stake in Canadian Pacific Railway Limited (CP)

Scheer Rowlett & Associates Investment Management Ltd. reduced its holdings in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 296,786 shares of the transportation company’s stock after selling 7,713 shares during the quarter. Canadian Pacific Railway makes up about 4.0% of Scheer Rowlett & Associates Investment Management Ltd.’s portfolio, making the stock its 8th biggest holding. Scheer Rowlett & Associates Investment Management Ltd. owned 0.21% of Canadian Pacific Railway worth $62,735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. HL Financial Services LLC boosted its stake in shares of Canadian Pacific Railway by 20.2% during the 2nd quarter. HL Financial Services LLC now owns 1,554 shares of the transportation company’s stock worth $284,000 after acquiring an additional 261 shares during the period. D.A. Davidson & CO. boosted its stake in Canadian Pacific Railway by 7.0% in the 2nd quarter. D.A. Davidson & CO. now owns 4,320 shares of the transportation company’s stock valued at $791,000 after purchasing an additional 282 shares during the period. Comerica Bank boosted its stake in Canadian Pacific Railway by 2.6% in the 3rd quarter. Comerica Bank now owns 11,387 shares of the transportation company’s stock valued at $2,261,000 after purchasing an additional 287 shares during the period. Park Avenue Securities LLC boosted its stake in Canadian Pacific Railway by 18.8% in the 3rd quarter. Park Avenue Securities LLC now owns 1,824 shares of the transportation company’s stock valued at $395,000 after purchasing an additional 288 shares during the period. Finally, AXA boosted its stake in Canadian Pacific Railway by 0.6% in the 3rd quarter. AXA now owns 53,765 shares of the transportation company’s stock valued at $11,395,000 after purchasing an additional 300 shares during the period. Institutional investors own 67.31% of the company’s stock.

CP has been the subject of several recent research reports. ValuEngine upgraded Canadian Pacific Railway from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Barclays restated a “buy” rating and issued a $235.00 price target on shares of Canadian Pacific Railway in a research note on Wednesday, September 26th. Bank of America boosted their price target on Canadian Pacific Railway from $213.00 to $233.00 and gave the company a “buy” rating in a research note on Monday, October 1st. Royal Bank of Canada restated an “outperform” rating on shares of Canadian Pacific Railway in a research note on Friday, October 5th. Finally, Citigroup restated a “buy” rating and issued a $260.00 price target (up from $242.00) on shares of Canadian Pacific Railway in a research note on Friday, October 5th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Canadian Pacific Railway presently has an average rating of “Buy” and a consensus target price of $237.15.

NYSE CP traded down $2.41 during midday trading on Thursday, hitting $197.38. The company had a trading volume of 10,606 shares, compared to its average volume of 627,795. The stock has a market capitalization of $28.49 billion, a PE ratio of 22.41, a P/E/G ratio of 1.42 and a beta of 0.91. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.68 and a quick ratio of 0.58. Canadian Pacific Railway Limited has a twelve month low of $166.36 and a twelve month high of $224.19.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Thursday, October 18th. The transportation company reported $4.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.16 by $0.96. The firm had revenue of $1.90 billion during 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 quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.90 EPS. On average, equities analysts expect that Canadian Pacific Railway Limited will post 10.82 EPS for the current year.

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About Canadian Pacific Railway

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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