Candriam Luxembourg S.C.A. grew its stake in Canadian Pacific Railway (NYSE:CP) (TSE:CP) by 123.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,278 shares of the transportation company’s stock after purchasing an additional 5,130 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Canadian Pacific Railway were worth $1,635,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in CP. Wells Fargo & Company MN lifted its position in shares of Canadian Pacific Railway by 4.1% during the 4th quarter. Wells Fargo & Company MN now owns 68,945 shares of the transportation company’s stock valued at $12,601,000 after buying an additional 2,713 shares in the last quarter. Brookfield Asset Management Inc. lifted its holdings in Canadian Pacific Railway by 86.6% in the 4th quarter. Brookfield Asset Management Inc. now owns 5,170 shares of the transportation company’s stock valued at $948,000 after purchasing an additional 2,400 shares in the last quarter. Virtu Financial LLC purchased a new position in Canadian Pacific Railway in the 4th quarter valued at $254,000. Clearbridge LLC lifted its holdings in Canadian Pacific Railway by 65.4% in the 4th quarter. Clearbridge LLC now owns 36,725 shares of the transportation company’s stock valued at $6,712,000 after purchasing an additional 14,526 shares in the last quarter. Finally, First Commonwealth Financial Corp PA lifted its holdings in Canadian Pacific Railway by 14.5% in the 4th quarter. First Commonwealth Financial Corp PA now owns 7,900 shares of the transportation company’s stock valued at $1,444,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 68.53% of the company’s stock.
Canadian Pacific Railway opened at $194.31 on Friday, MarketBeat.com reports. Canadian Pacific Railway has a 12-month low of $150.91 and a 12-month high of $196.34. The company has a market capitalization of $27.69 billion, a PE ratio of 22.13, a P/E/G ratio of 1.60 and a beta of 1.04. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 1.18.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 30th. Shareholders of record on Friday, June 29th will be given a dividend of $0.438 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.75 dividend on an annualized basis and a yield of 0.90%. Canadian Pacific Railway’s payout ratio is 19.93%.
A number of research analysts have weighed in on the company. Morgan Stanley decreased their price objective on Canadian Pacific Railway from $248.00 to $243.00 and set an “overweight” rating on the stock in a report on Friday, April 6th. Zacks Investment Research raised Canadian Pacific Railway from a “sell” rating to a “hold” rating in a research note on Thursday, April 5th. Cowen reissued an “outperform” rating and set a $209.00 price objective (up from $207.00) on shares of Canadian Pacific Railway in a research report on Wednesday, February 28th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $201.00 target price on shares of Canadian Pacific Railway in a research report on Saturday, June 2nd. Finally, Credit Suisse Group lifted their target price on Canadian Pacific Railway from $204.00 to $208.00 and gave the company an “outperform” rating in a research report on Thursday, April 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. Canadian Pacific Railway currently has a consensus rating of “Buy” and a consensus target price of $206.75.
About Canadian Pacific Railway
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 finished vehicles and machineries, automotive parts, chemicals and plastics, petroleum and crude products, and metals and minerals, as well as forest, industrial, and consumer products.
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