Wedbush Securities Inc. Lowers Position in Canadian Pacific Railway Ltd (NYSE:CP)

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Wedbush Securities Inc. trimmed its position in shares of Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) by 8.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 930 shares of the transportation company’s stock after selling 88 shares during the period. Wedbush Securities Inc.’s holdings in Canadian Pacific Railway were worth $219,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CP. FIL Ltd lifted its position in shares of Canadian Pacific Railway by 13.6% during the 1st quarter. FIL Ltd now owns 4,056,828 shares of the transportation company’s stock valued at $835,864,000 after buying an additional 485,524 shares in the last quarter. TD Asset Management Inc. lifted its position in Canadian Pacific Railway by 0.5% during the first quarter. TD Asset Management Inc. now owns 3,508,765 shares of the transportation company’s stock worth $723,153,000 after buying an additional 18,425 shares during the period. Egerton Capital UK LLP lifted its position in Canadian Pacific Railway by 8.1% during the first quarter. Egerton Capital UK LLP now owns 3,395,773 shares of the transportation company’s stock worth $699,631,000 after buying an additional 254,877 shares during the period. Bank of Montreal Can lifted its position in 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 lifted its position in 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. 69.94% of the stock is owned by institutional investors and hedge funds.

Shares of Canadian Pacific Railway stock traded down $1.92 during trading hours on Tuesday, reaching $238.61. The stock had a trading volume of 4,563 shares, compared to its average volume of 374,413. The firm has a 50 day simple moving average of $236.81 and a two-hundred day simple moving average of $221.01. The firm has a market capitalization of $33.09 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.65 and a beta of 1.11. The company has a current ratio of 0.67, a quick ratio of 0.55 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.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last posted its earnings results on Tuesday, July 16th. The transportation company reported $4.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm earned $3.16 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Sell-side analysts forecast that Canadian Pacific Railway Ltd will post 12.76 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be paid a $0.634 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.54 dividend on an annualized basis and a dividend yield of 1.06%. This is a positive change from Canadian Pacific Railway’s previous quarterly dividend of $0.62. Canadian Pacific Railway’s dividend payout ratio (DPR) is 22.68%.

Several equities analysts recently weighed in on CP shares. ValuEngine downgraded Canadian Pacific Railway from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Cowen restated a “buy” rating and issued a $258.00 price objective on shares of Canadian Pacific Railway in a report on Tuesday, July 16th. Argus raised their price objective on Canadian Pacific Railway to $265.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Raymond James downgraded Canadian Pacific Railway from a “strong-buy” rating to an “outperform” rating in a report on Monday, July 15th. Finally, National Bank Financial downgraded Canadian Pacific Railway from an “outperform” rating to a “sector perform” rating and set a $233.71 price objective on the stock. in a report on Thursday, June 27th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Canadian Pacific Railway presently has an average rating of “Buy” and a consensus target price 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.

Further Reading: Market Timing

Want to see what other hedge funds are holding CP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP).

Institutional Ownership by Quarter for Canadian Pacific Railway (NYSE:CP)

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