Trading Report: The Raymond James Trust N.A. Sold shares of Canadian Pacific Railway Ltd. (CP)

The Raymond James Trust N.A. Sold shares of Canadian Pacific Railway Ltd. (CP)

Raymond James Trust N.A. reduced its stake in Canadian Pacific Railway Ltd. (NYSE:CP) (TSE:CP) by 10.6% during the third quarter, Holdings Channel reports. The fund owned 3,145 shares of the company’s stock after selling 374 shares during the period. Raymond James Trust N.A.’s holdings in Canadian Pacific Railway were worth $480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jag Capital Management LLC raised its position in shares of Canadian Pacific Railway by 0.4% in the second quarter. Jag Capital Management LLC now owns 8,477 shares of the company’s stock valued at $1,092,000 after buying an additional 30 shares during the period. Park National Corp OH raised its position in shares of Canadian Pacific Railway by 3.1% in the second quarter. Park National Corp OH now owns 1,664 shares of the company’s stock valued at $214,000 after buying an additional 50 shares during the period. Fifth Third Bancorp raised its position in shares of Canadian Pacific Railway by 5.2% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the company’s stock valued at $176,000 after buying an additional 68 shares during the period. DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of Canadian Pacific Railway by 3.0% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 2,532 shares of the company’s stock valued at $326,000 after buying an additional 73 shares during the period. Finally, Creative Planning raised its position in shares of Canadian Pacific Railway by 0.3% in the second quarter. Creative Planning now owns 32,207 shares of the company’s stock valued at $4,148,000 after buying an additional 89 shares during the period. 72.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Canadian Pacific Railway Ltd. (NYSE:CP) traded up 0.06% during midday trading on Friday, reaching $149.24. 157,945 shares of the company traded hands. The company has a 50 day moving average price of $146.70 and a 200 day moving average price of $142.53. The company has a market capitalization of $21.83 billion, a PE ratio of 19.97 and a beta of 1.08. Canadian Pacific Railway Ltd. has a 1-year low of $97.09 and a 1-year high of $157.34.

Canadian Pacific Railway (NYSE:CP) last released its quarterly earnings data on Wednesday, October 19th. The company reported $2.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by $0.06. The company earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Canadian Pacific Railway had a net margin of 24.33% and a return on equity of 30.92%. Canadian Pacific Railway’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the firm earned $2.69 earnings per share. On average, analysts expect that Canadian Pacific Railway Ltd. will post $7.78 earnings per share for the current year.

CP has been the subject of several research reports. Atlantic Securities initiated coverage on shares of Canadian Pacific Railway in a research report on Thursday, August 11th. They issued an “overweight” rating for the company. Loop Capital reiterated a “hold” rating on shares of Canadian Pacific Railway in a research report on Friday, September 9th. Barclays PLC upped their price target on shares of Canadian Pacific Railway from $165.00 to $172.00 and gave the company an “overweight” rating in a research report on Monday, September 12th. Citigroup Inc. upped their price target on shares of Canadian Pacific Railway from $154.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, September 13th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $172.00 price target on shares of Canadian Pacific Railway in a research report on Tuesday, September 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Canadian Pacific Railway presently has a consensus rating of “Buy” and a consensus target price of $182.15.

In other news, VP Peter John Edwards sold 15,300 shares of the business’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 owns 16,333 shares in the company, valued at approximately $2,443,416.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.

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