Regal Investment Advisors LLC acquired a new stake in Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,334 shares of the transportation company’s stock, valued at approximately $314,000.
Other hedge funds have also made changes to their positions in the company. FIL Ltd grew its holdings in Canadian Pacific Railway by 13.6% during the 1st quarter. FIL Ltd now owns 4,056,828 shares of the transportation company’s stock worth $835,864,000 after acquiring an additional 485,524 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Canadian Pacific Railway in the 1st quarter valued at $88,413,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of Canadian Pacific Railway in the 1st quarter valued at $102,483,000. Egerton Capital UK LLP boosted its holdings in shares of Canadian Pacific Railway by 8.1% in the 1st quarter. Egerton Capital UK LLP now owns 3,395,773 shares of the transportation company’s stock valued at $699,631,000 after buying an additional 254,877 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Canadian Pacific Railway by 13.1% in the 1st quarter. Toronto Dominion Bank now owns 835,552 shares of the transportation company’s stock valued at $172,127,000 after buying an additional 97,070 shares in the last quarter. Hedge funds and other institutional investors own 67.57% of the company’s stock.
CP has been the subject of several research analyst reports. Wolfe Research cut shares of Canadian Pacific Railway from an “outperform” rating to a “peer perform” rating in a report on Friday, June 28th. National Bank Financial cut shares of Canadian Pacific Railway from an “outperform” rating to a “sector perform” rating and set a $233.71 target price for the company. in a report on Thursday, June 27th. Cowen restated a “buy” rating and issued a $258.00 target price on shares of Canadian Pacific Railway in a report on Tuesday, July 16th. Raymond James cut shares of Canadian Pacific Railway from a “strong-buy” rating to an “outperform” rating in a report on Monday, July 15th. Finally, Credit Suisse Group upped their target price on shares of Canadian Pacific Railway from $262.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Canadian Pacific Railway presently has an average rating of “Buy” and an average price target of $242.62.
Canadian Pacific Railway (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Tuesday, July 16th. The transportation company reported $4.30 EPS for the quarter, beating the consensus estimate of $3.19 by $1.11. Canadian Pacific Railway had a net margin of 30.40% and a return on equity of 32.03%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm earned $3.16 EPS. Canadian Pacific Railway’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts predict that Canadian Pacific Railway Ltd will post 12.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a $0.634 dividend. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, September 26th. This represents a $2.54 annualized dividend and a yield of 1.09%. 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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