Thrivent Financial for Lutherans purchased a new stake in Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) in the first quarter, according to its most recent filing with the SEC. The fund purchased 1,591 shares of the transportation company’s stock, valued at approximately $349,000.
Several other hedge funds have also recently bought and sold shares of CP. NEXT Financial Group Inc raised its stake in Canadian Pacific Railway by 6.2% during the first quarter. NEXT Financial Group Inc now owns 789 shares of the transportation company’s stock worth $174,000 after acquiring an additional 46 shares during the period. Baldwin Brothers Inc. MA grew its holdings in shares of Canadian Pacific Railway by 8.0% during the first quarter. Baldwin Brothers Inc. MA now owns 651 shares of the transportation company’s stock valued at $143,000 after purchasing an additional 48 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Canadian Pacific Railway by 2.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,371 shares of the transportation company’s stock valued at $521,000 after purchasing an additional 50 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Canadian Pacific Railway by 33.3% during the 1st quarter. Lindbrook Capital LLC now owns 204 shares of the transportation company’s stock worth $45,000 after purchasing an additional 51 shares during the period. Finally, Chartwell Investment Partners LLC boosted its position in Canadian Pacific Railway by 6.4% during the 1st quarter. Chartwell Investment Partners LLC now owns 966 shares of the transportation company’s stock valued at $212,000 after purchasing an additional 58 shares during the period. 69.36% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on CP shares. ValuEngine raised Canadian Pacific Railway from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Wells Fargo & Co increased their price objective on shares of Canadian Pacific Railway from $252.00 to $271.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. UBS Group boosted their target price on shares of Canadian Pacific Railway from $341.00 to $387.00 and gave the company a “buy” rating in a research note on Friday, June 19th. CIBC raised their price target on shares of Canadian Pacific Railway from $335.00 to $370.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Finally, Evercore ISI initiated coverage on Canadian Pacific Railway in a research report on Thursday, March 26th. They set an “outperform” rating and a $268.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $306.65.
Shares of CP opened at $250.47 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.78 and a quick ratio of 0.69. The firm’s 50 day moving average is $247.75 and its 200-day moving average is $243.52. Canadian Pacific Railway Ltd has a 12-month low of $173.26 and a 12-month high of $275.13. The stock has a market capitalization of $33.97 billion, a P/E ratio of 18.42, a P/E/G ratio of 2.76 and a beta of 0.95.
Canadian Pacific Railway (NYSE:CP) (TSE:CP) last announced its earnings results on Tuesday, April 21st. The transportation company reported $4.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $1.56. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. Canadian Pacific Railway had a return on equity of 35.29% and a net margin of 29.95%. Canadian Pacific Railway’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 earnings per share. As a group, equities research analysts forecast that Canadian Pacific Railway Ltd will post 12.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, June 25th. Canadian Pacific Railway’s payout ratio is 19.05%.
Canadian Pacific Railway 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 energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.
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