M&T Bank Corp Lowers Stock Position in Canadian Pacific Railway Ltd (NYSE:CP)

M&T Bank Corp trimmed its stake in Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 41,661 shares of the transportation company’s stock after selling 1,213 shares during the period. M&T Bank Corp’s holdings in Canadian Pacific Railway were worth $10,638,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. WCM Investment Management LLC grew its position in Canadian Pacific Railway by 5.2% in the 1st quarter. WCM Investment Management LLC now owns 5,760,029 shares of the transportation company’s stock valued at $1,264,845,000 after acquiring an additional 284,219 shares in the last quarter. Veritas Asset Management LLP boosted its stake in shares of Canadian Pacific Railway by 5.1% in the first quarter. Veritas Asset Management LLP now owns 3,293,700 shares of the transportation company’s stock valued at $723,264,000 after purchasing an additional 160,500 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Canadian Pacific Railway by 38.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,005,653 shares of the transportation company’s stock valued at $660,011,000 after purchasing an additional 835,865 shares in the last quarter. Lone Pine Capital LLC increased its stake in Canadian Pacific Railway by 21.9% during the 1st quarter. Lone Pine Capital LLC now owns 2,279,058 shares of the transportation company’s stock worth $500,458,000 after buying an additional 408,973 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in Canadian Pacific Railway by 3.3% during the 1st quarter. 1832 Asset Management L.P. now owns 2,156,930 shares of the transportation company’s stock worth $472,787,000 after buying an additional 69,672 shares in the last quarter. 69.44% of the stock is currently owned by institutional investors and hedge funds.

CP stock opened at $275.18 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $37.29 billion, a P/E ratio of 21.84, a PEG ratio of 2.67 and a beta of 0.95. The business has a 50 day simple moving average of $260.06 and a 200-day simple moving average of $244.99. Canadian Pacific Railway Ltd has a twelve month low of $173.26 and a twelve month high of $280.76.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $4.07 EPS for the quarter, beating the consensus estimate of $2.75 by $1.32. Canadian Pacific Railway had a net margin of 29.48% and a return on equity of 34.28%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the firm earned $4.30 EPS. Canadian Pacific Railway’s revenue for the quarter was down 9.5% on a year-over-year basis. Research analysts predict that Canadian Pacific Railway Ltd will post 12.89 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be issued a $0.7065 dividend. This represents a $2.83 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from Canadian Pacific Railway’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, September 24th. Canadian Pacific Railway’s dividend payout ratio is presently 19.69%.

A number of research firms have recently weighed in on CP. Barclays upped their price objective on Canadian Pacific Railway from $239.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. They noted that the move was a valuation call. Royal Bank of Canada lifted their price objective on Canadian Pacific Railway from $401.00 to $408.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. TheStreet upgraded shares of Canadian Pacific Railway from a “c” rating to a “b-” rating in a research note on Wednesday, April 29th. Citigroup lifted their price target on shares of Canadian Pacific Railway from $215.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Deutsche Bank increased their price objective on shares of Canadian Pacific Railway from $271.00 to $302.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company’s stock. Canadian Pacific Railway currently has a consensus rating of “Buy” and an average target price of $327.38.

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 energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.

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

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