UBS Asset Management Americas Inc. reduced its position in shares of Canadian Pacific Railway Ltd. (NYSE:CP) (TSE:CP) by 15.7% during the third quarter, Holdings Channel reports. The institutional investor owned 696,599 shares of the company’s stock after selling 129,734 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.48% of Canadian Pacific Railway worth $106,370,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CP. Egerton Capital UK LLP acquired a new stake in Canadian Pacific Railway during the third quarter worth about $379,300,000. JPMorgan Chase & Co. boosted its stake in Canadian Pacific Railway by 184.4% in the second quarter. JPMorgan Chase & Co. now owns 3,535,121 shares of the company’s stock worth $455,287,000 after buying an additional 2,292,240 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in 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 worth $455,518,000 after buying an additional 1,395,706 shares during the last quarter. Cohen & Steers Inc. boosted its stake in Canadian Pacific Railway by 886.7% in the second quarter. Cohen & Steers Inc. now owns 1,367,143 shares of the company’s stock worth $119,283,000 after buying an additional 1,228,581 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in 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 worth $485,719,000 after buying an additional 965,068 shares during the last quarter. Hedge funds and other institutional investors own 68.67% of the company’s stock.
Shares of Canadian Pacific Railway Ltd. (NYSE:CP) traded down 0.47% on Monday, hitting $148.54. The stock had a trading volume of 189,118 shares. Canadian Pacific Railway Ltd. has a 1-year low of $97.09 and a 1-year high of $157.34. The firm has a 50 day moving average of $146.70 and a 200-day moving average of $142.53. The firm has a market capitalization of $21.73 billion, a price-to-earnings ratio of 19.88 and a beta of 1.08.
Canadian Pacific Railway (NYSE:CP) last announced its quarterly earnings data on Wednesday, October 19th. The company reported $2.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.79 by $0.06. Canadian Pacific Railway had a net margin of 24.33% and a return on equity of 30.92%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business posted $2.69 earnings per share. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. Equities analysts predict that Canadian Pacific Railway Ltd. will post $7.80 earnings per share for the current year.
A number of analysts have recently issued reports on the company. Loop Capital reaffirmed a “hold” rating on shares of Canadian Pacific Railway in a research report on Friday, September 9th. Vertical Research assumed coverage on Canadian Pacific Railway in a research report on Tuesday, October 11th. They issued a “buy” rating for the company. Raymond James Financial Inc. cut Canadian Pacific Railway from a “strong-buy” rating to an “outperform” rating in a research report on Monday, October 17th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $172.00 price objective on shares of Canadian Pacific Railway in a research report on Tuesday, September 13th. Finally, Citigroup Inc. lifted their price target on Canadian Pacific Railway from $154.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Canadian Pacific Railway presently has a consensus rating of “Buy” and an average target price of $182.15.
In related news, VP Peter John Edwards sold 15,300 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $149.60, for a total value of $2,288,880.00. Following the sale, the vice president now directly owns 16,333 shares of the company’s stock, valued at $2,443,416.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.
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.