Canadian Pacific Railway Ltd (NYSE:CP) Shares Bought by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL raised its stake in Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) by 56.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,500 shares of the transportation company’s stock after acquiring an additional 16,800 shares during the period. Virginia Retirement Systems ET AL’s holdings in Canadian Pacific Railway were worth $10,975,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. FIL Ltd boosted its stake in Canadian Pacific Railway by 13.6% in the first quarter. FIL Ltd now owns 4,056,828 shares of the transportation company’s stock valued at $835,864,000 after acquiring an additional 485,524 shares during the period. TD Asset Management Inc. boosted its stake in Canadian Pacific Railway by 0.5% in the first quarter. TD Asset Management Inc. now owns 3,508,765 shares of the transportation company’s stock valued at $723,153,000 after acquiring an additional 18,425 shares during the period. Egerton Capital UK LLP boosted its stake in Canadian Pacific Railway by 8.1% in the first quarter. Egerton Capital UK LLP now owns 3,395,773 shares of the transportation company’s stock valued at $699,631,000 after acquiring an additional 254,877 shares during the period. Bank of Montreal Can boosted its position in shares of Canadian Pacific Railway by 0.5% during the first quarter. Bank of Montreal Can now owns 3,141,406 shares of the transportation company’s stock worth $647,223,000 after buying an additional 15,826 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Canadian Pacific Railway by 4.7% during the first quarter. The Manufacturers Life Insurance Company now owns 1,915,566 shares of the transportation company’s stock worth $394,664,000 after buying an additional 86,085 shares during the period. Institutional investors own 67.57% of the company’s stock.

Several equities analysts have recently issued reports on the company. Argus boosted their price objective on Canadian Pacific Railway to $265.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. TheStreet downgraded Canadian Pacific Railway from a “b+” rating to a “c” rating in a research report on Tuesday, July 16th. Credit Suisse Group boosted their price objective on Canadian Pacific Railway from $262.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Desjardins downgraded Canadian Pacific Railway from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Finally, Cowen reiterated a “buy” rating and set a $258.00 price objective on shares of Canadian Pacific Railway in a research report on Tuesday, July 16th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $242.62.

CP traded down $2.97 during trading on Wednesday, reaching $227.02. The stock had a trading volume of 11,955 shares, compared to its average volume of 463,897. The stock has a market cap of $31.74 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 1.61 and a beta of 1.11. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. Canadian Pacific Railway Ltd has a 1-year low of $167.48 and a 1-year high of $247.52. The stock has a 50 day simple moving average of $237.28.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last released its earnings results on Tuesday, July 16th. The transportation company reported $4.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $1.11. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.98 billion. Canadian Pacific Railway had a return on equity of 32.03% and a net margin of 30.40%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.16 earnings per share. As a group, equities research analysts expect that Canadian Pacific Railway Ltd will post 12.77 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be given a $0.634 dividend. This represents a $2.54 dividend on an annualized basis and a yield of 1.12%. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, September 26th. Canadian Pacific Railway’s dividend payout ratio is 22.68%.

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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