UBS Asset Management Americas Inc. decreased its stake in Canadian Pacific Railway Ltd. (NYSE:CP) (TSE:CP) by 15.7% during the third quarter, Holdings Channel reports. The fund owned 696,599 shares of the company’s stock after selling 129,734 shares during the period. UBS Asset Management Americas Inc.’s holdings in Canadian Pacific Railway were worth $106,370,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in CP. Egerton Capital UK LLP bought a new position in shares of Canadian Pacific Railway during the third quarter valued at $379,300,000. JPMorgan Chase & Co. boosted its position in shares of Canadian Pacific Railway by 184.4% in the second quarter. JPMorgan Chase & Co. now owns 3,535,121 shares of the company’s stock valued at $455,287,000 after buying an additional 2,292,240 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Canadian Pacific Railway by 65.1% in the second quarter. 1832 Asset Management L.P. now owns 3,540,175 shares of the company’s stock valued at $455,518,000 after buying an additional 1,395,706 shares in the last quarter. Cohen & Steers Inc. boosted its position in shares of Canadian Pacific Railway by 886.7% in the second quarter. Cohen & Steers Inc. now owns 1,367,143 shares of the company’s stock valued at $119,283,000 after buying an additional 1,228,581 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in shares of Canadian Pacific Railway by 34.4% in the second quarter. Artisan Partners Limited Partnership now owns 3,771,402 shares of the company’s stock valued at $485,719,000 after buying an additional 965,068 shares in the last quarter. 68.67% of the stock is owned by institutional investors and hedge funds.
Shares of Canadian Pacific Railway Ltd. (NYSE:CP) traded down 0.47% during mid-day trading on Monday, reaching $148.54. The company’s stock had a trading volume of 189,118 shares. The company has a market cap of $21.73 billion, a P/E ratio of 19.88 and a beta of 1.08. The company has a 50-day moving average of $146.70 and a 200-day moving average of $142.53. Canadian Pacific Railway Ltd. has a 12 month low of $97.09 and a 12 month high of $157.34.
Canadian Pacific Railway (NYSE:CP) last posted its earnings results on Wednesday, October 19th. The company reported $2.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.79 by $0.06. The business earned $1.55 billion during the quarter, compared to the consensus estimate of $1.26 billion. Canadian Pacific Railway had a return on equity of 30.92% and a net margin of 24.33%. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.69 earnings per share. Equities research analysts forecast that Canadian Pacific Railway Ltd. will post $7.80 earnings per share for the current fiscal year.
Several equities analysts have weighed in on the company. Loop Capital reaffirmed a “hold” rating on shares of Canadian Pacific Railway in a report on Friday, September 9th. Citigroup Inc. lifted their price objective on Canadian Pacific Railway from $154.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Raymond James Financial Inc. cut Canadian Pacific Railway from a “strong-buy” rating to an “outperform” rating in a report on Monday, October 17th. Susquehanna reiterated a “neutral” rating and issued a $168.00 price target (up previously from $167.00) on shares of Canadian Pacific Railway in a research note on Saturday, October 22nd. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $172.00 price target on shares of Canadian Pacific Railway in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $182.15.
In other Canadian Pacific Railway news, VP Peter John Edwards sold 15,300 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $149.60, for a total value of $2,288,880.00. Following the completion of the sale, the vice president now directly owns 16,333 shares in the company, valued at $2,443,416.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.
About Canadian Pacific Railway
Canadian Pacific Railway Limited (CP), together with its subsidiaries, operates a transcontinental railway in Canada and the United States. The Company operates in rail transportation segment. The Company’s business mix includes bulk commodities, merchandise freight and intermodal traffic over a network of approximately 12,500 miles, serving the principal business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the United States Northeast and Midwest regions.