Renaissance Technologies LLC Reduces Position in Canadian Pacific Railway Ltd (NYSE:CP)

Renaissance Technologies LLC decreased its stake in shares of Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) by 44.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 147,100 shares of the transportation company’s stock after selling 119,400 shares during the period. Renaissance Technologies LLC owned 0.11% of Canadian Pacific Railway worth $34,649,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Liberty Wealth Management LLC grew its position in shares of Canadian Pacific Railway by 287.8% in the second quarter. Liberty Wealth Management LLC now owns 159 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 118 shares during the period. Clear Perspective Advisors LLC acquired a new position in Canadian Pacific Railway in the second quarter valued at $65,000. Capital Investment Advisory Services LLC boosted its holdings in Canadian Pacific Railway by 39.9% in the second quarter. Capital Investment Advisory Services LLC now owns 319 shares of the transportation company’s stock valued at $76,000 after acquiring an additional 91 shares during the last quarter. Coastal Investment Advisors Inc. boosted its holdings in Canadian Pacific Railway by 81.5% in the second quarter. Coastal Investment Advisors Inc. now owns 343 shares of the transportation company’s stock valued at $81,000 after acquiring an additional 154 shares during the last quarter. Finally, Advisory Services Network LLC boosted its holdings in Canadian Pacific Railway by 787.5% in the first quarter. Advisory Services Network LLC now owns 426 shares of the transportation company’s stock valued at $88,000 after acquiring an additional 378 shares during the last quarter. 68.25% of the stock is owned by institutional investors.

Shares of NYSE:CP traded up $1.64 during trading on Friday, hitting $231.67. The company’s stock had a trading volume of 10,944 shares, compared to its average volume of 420,989. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.55 and a current ratio of 0.67. Canadian Pacific Railway Ltd has a fifty-two week low of $167.48 and a fifty-two week high of $247.52. The stock’s 50-day moving average price is $236.56 and its two-hundred day moving average price is $225.02. The company has a market capitalization of $32.83 billion, a PE ratio of 20.72, a PEG ratio of 1.64 and a beta of 1.09.

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, topping the Thomson Reuters’ consensus estimate of $3.19 by $1.11. Canadian Pacific Railway had a return on equity of 32.03% and a net margin of 30.40%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the firm posted $3.16 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. On average, equities analysts predict that Canadian Pacific Railway Ltd will post 12.7 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 paid a $0.634 dividend. This is a boost from Canadian Pacific Railway’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.54 annualized dividend and a dividend yield of 1.09%. Canadian Pacific Railway’s payout ratio is 22.68%.

A number of research analysts recently weighed in on the company. Goldman Sachs Group assumed coverage on Canadian Pacific Railway in a report on Wednesday, July 10th. They issued a “neutral” rating and a $253.00 target price on the stock. Wolfe Research cut Canadian Pacific Railway from an “outperform” rating to a “peer perform” rating in a report on Friday, June 28th. ValuEngine cut Canadian Pacific Railway from a “buy” rating to a “hold” rating in a report on Friday, July 19th. TheStreet cut Canadian Pacific Railway from a “b+” rating to a “c” rating in a report on Tuesday, July 16th. Finally, Argus lifted their target price on Canadian Pacific Railway to $265.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Canadian Pacific Railway has a consensus rating of “Buy” and a consensus price target of $242.62.

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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