B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund increased its position in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 6.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,245 shares of the transportation company’s stock after purchasing an additional 5,245 shares during the period. Canadian Pacific Railway accounts for about 2.7% of B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s investment portfolio, making the stock its 13th biggest holding. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund owned about 0.06% of Canadian Pacific Railway worth $16,528,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Jackson Grant Investment Advisers Inc. bought a new stake in Canadian Pacific Railway during the second quarter worth approximately $103,000. Signaturefd LLC bought a new stake in Canadian Pacific Railway during the first quarter worth approximately $116,000. Zions Bancorporation bought a new stake in Canadian Pacific Railway during the second quarter worth approximately $134,000. Financial Gravity Wealth Inc. bought a new stake in Canadian Pacific Railway during the first quarter worth approximately $175,000. Finally, Sawtooth Solutions LLC bought a new stake in Canadian Pacific Railway during the second quarter worth approximately $207,000. 65.08% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Canadian Pacific Railway from a “sell” rating to a “hold” rating in a research report on Tuesday, July 17th. ValuEngine upgraded shares of Canadian Pacific Railway from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Bank of America lifted their price target on shares of Canadian Pacific Railway from $213.00 to $233.00 and gave the stock a “buy” rating in a research report on Monday, October 1st. Deutsche Bank lowered shares of Canadian Pacific Railway to a “buy” rating in a research report on Monday, July 9th. Finally, Wolfe Research upgraded shares of Canadian Pacific Railway from a “peer perform” rating to an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Canadian Pacific Railway has an average rating of “Buy” and a consensus target price of $235.33.
Shares of CP stock traded up $3.83 on Friday, hitting $220.69. The company’s stock had a trading volume of 1,642,797 shares, compared to its average volume of 528,846. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 1.21. Canadian Pacific Railway Limited has a fifty-two week low of $164.01 and a fifty-two week high of $224.19. The firm has a market cap of $30.22 billion, a PE ratio of 25.14, a PEG ratio of 1.78 and a beta of 1.07.
Canadian Pacific Railway (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, July 18th. The transportation company reported $3.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.76. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. Canadian Pacific Railway had a net margin of 33.92% and a return on equity of 27.87%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.77 EPS. As a group, analysts forecast that Canadian Pacific Railway Limited will post 10.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 29th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.4999 per share. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, September 27th. This represents a $2.00 annualized dividend and a dividend yield of 0.91%. Canadian Pacific Railway’s payout ratio is presently 22.89%.
Canadian Pacific Railway 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 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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