Forsta AP Fonden Sells 4,200 Shares of Canadian Pacific Railway Limited (NYSE:CP)

Forsta AP Fonden lowered its holdings in Canadian Pacific Railway Limited (NYSE:CPGet Rating) (TSE:CP) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 160,300 shares of the transportation company’s stock after selling 4,200 shares during the quarter. Forsta AP Fonden’s holdings in Canadian Pacific Railway were worth $13,242,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wealthsource Partners LLC raised its stake in shares of Canadian Pacific Railway by 3.0% during the 1st quarter. Wealthsource Partners LLC now owns 13,197 shares of the transportation company’s stock worth $1,089,000 after acquiring an additional 387 shares in the last quarter. Summit Asset Management LLC grew its position in Canadian Pacific Railway by 12.1% during the 1st quarter. Summit Asset Management LLC now owns 6,481 shares of the transportation company’s stock worth $535,000 after purchasing an additional 700 shares during the last quarter. RMB Capital Management LLC grew its position in Canadian Pacific Railway by 0.8% during the 1st quarter. RMB Capital Management LLC now owns 35,447 shares of the transportation company’s stock worth $2,926,000 after purchasing an additional 288 shares during the last quarter. Veritas Asset Management LLP grew its position in Canadian Pacific Railway by 11.8% during the 1st quarter. Veritas Asset Management LLP now owns 17,211,071 shares of the transportation company’s stock worth $1,420,602,000 after purchasing an additional 1,819,700 shares during the last quarter. Finally, Balentine LLC grew its position in Canadian Pacific Railway by 66.7% during the 1st quarter. Balentine LLC now owns 8,906 shares of the transportation company’s stock worth $735,000 after purchasing an additional 3,563 shares during the last quarter. Institutional investors own 75.22% of the company’s stock.

Canadian Pacific Railway Stock Performance

NYSE:CP opened at $80.02 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.50. The company has a fifty day moving average of $72.61 and a two-hundred day moving average of $73.76. The stock has a market capitalization of $74.41 billion, a PE ratio of 34.94, a P/E/G ratio of 2.79 and a beta of 0.95. Canadian Pacific Railway Limited has a fifty-two week low of $64.37 and a fifty-two week high of $84.22.

Canadian Pacific Railway (NYSE:CPGet Rating) (TSE:CP) last posted its quarterly earnings data on Thursday, July 28th. The transportation company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.19. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Canadian Pacific Railway had a net margin of 29.38% and a return on equity of 9.74%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, research analysts forecast that Canadian Pacific Railway Limited will post 2.88 earnings per share for the current fiscal year.

Canadian Pacific Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a dividend of $0.148 per share. This represents a $0.59 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, September 29th. Canadian Pacific Railway’s dividend payout ratio is presently 25.76%.

Analysts Set New Price Targets

Several analysts have weighed in on CP shares. StockNews.com raised shares of Canadian Pacific Railway from a “sell” rating to a “hold” rating in a research report on Tuesday, June 21st. Credit Suisse Group began coverage on shares of Canadian Pacific Railway in a report on Monday, June 27th. They issued a “neutral” rating and a $74.00 price objective on the stock. Raymond James dropped their price objective on shares of Canadian Pacific Railway from C$105.00 to C$100.00 in a report on Friday, April 22nd. Citigroup dropped their price objective on shares of Canadian Pacific Railway from $84.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Finally, Susquehanna Bancshares dropped their price objective on shares of Canadian Pacific Railway from $91.00 to $84.00 in a report on Wednesday, July 6th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Canadian Pacific Railway has an average rating of “Moderate Buy” and an average target price of $90.13.

Canadian Pacific Railway Company Profile

(Get Rating)

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.

See Also

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

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