Princeton Capital Management Inc. Reduces Position in Canadian Pacific Railway Ltd. (CP)
Princeton Capital Management Inc. decreased its position in shares of Canadian Pacific Railway Ltd. (NYSE:CP) by 34.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,806 shares of the company’s stock after selling 10,020 shares during the period. Canadian Pacific Railway makes up about 1.7% of Princeton Capital Management Inc.’s holdings, making the stock its 23rd largest position. Princeton Capital Management Inc.’s holdings in Canadian Pacific Railway were worth $2,422,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Canada Pension Plan Investment Board raised its stake in Canadian Pacific Railway by 529.4% in the first quarter. Canada Pension Plan Investment Board now owns 21,462 shares of the company’s stock valued at $2,863,000 after buying an additional 18,052 shares during the last quarter. Legal & General Group Plc raised its stake in Canadian Pacific Railway by 1.6% in the first quarter. Legal & General Group Plc now owns 566,482 shares of the company’s stock valued at $75,567,000 after buying an additional 8,753 shares during the last quarter. Seven Eight Capital LLC bought a new stake in Canadian Pacific Railway during the first quarter valued at about $345,000. Creative Planning raised its stake in 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 last quarter. Finally, IFP Advisors Inc raised its stake in Canadian Pacific Railway by 28.9% in the first quarter. IFP Advisors Inc now owns 1,360 shares of the company’s stock valued at $180,000 after buying an additional 305 shares during the last quarter. 68.28% of the stock is owned by institutional investors.
Shares of Canadian Pacific Railway Ltd. (NYSE:CP) traded down 0.16% during trading on Monday, hitting $146.72. The stock had a trading volume of 429,369 shares. Canadian Pacific Railway Ltd. has a 12-month low of $97.09 and a 12-month high of $157.82. The stock has a market cap of $21.68 billion, a price-to-earnings ratio of 19.43 and a beta of 1.40. The stock’s 50-day moving average is $149.90 and its 200-day moving average is $138.92.
Canadian Pacific Railway (NYSE:CP) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by $0.45. The company earned $1.45 billion during the quarter, compared to analyst estimates of $1.57 billion. Canadian Pacific Railway had a net margin of 23.36% and a return on equity of 32.47%. The firm’s revenue was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.45 earnings per share. On average, equities research analysts expect that Canadian Pacific Railway Ltd. will post $8.05 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 24th. Stockholders of record on Friday, September 30th will be paid a $0.3858 dividend. This is a boost from Canadian Pacific Railway’s previous quarterly dividend of $0.27. This represents a $1.54 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, September 28th. Canadian Pacific Railway’s dividend payout ratio (DPR) is presently 20.82%.
Several research firms have recently issued reports on CP. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Canadian Pacific Railway in a research note on Saturday, June 4th. Cowen and Company raised their price objective on Canadian Pacific Railway from $166.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, July 20th. Royal Bank Of Canada lowered their price objective on Canadian Pacific Railway from $209.00 to $203.00 and set an “outperform” rating for the company in a research note on Thursday, June 23rd. Desjardins raised Canadian Pacific Railway from a “hold” rating to a “buy” rating and lowered their price objective for the company from $204.00 to $195.00 in a research note on Wednesday, June 22nd. Finally, Zacks Investment Research lowered Canadian Pacific Railway from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $179.93.
In other news, Director Pershing Square Capital Manage sold 9,840,890 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $141.68, for a total value of $1,394,257,295.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by insiders.
Canadian Pacific Railway Company Profile
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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