Icon Advisers Inc. Co. bought a new position in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 56,700 shares of the transportation company’s stock, valued at approximately $9,527,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Mawer Investment Management Ltd. raised its holdings in shares of Canadian Pacific Railway Limited by 23.8% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,213,962 shares of the transportation company’s stock worth $204,020,000 after buying an additional 233,468 shares in the last quarter. Commonwealth Equity Services Inc raised its holdings in shares of Canadian Pacific Railway Limited by 15.3% in the 3rd quarter. Commonwealth Equity Services Inc now owns 2,589 shares of the transportation company’s stock worth $435,000 after buying an additional 344 shares in the last quarter. Worth Venture Partners LLC raised its holdings in shares of Canadian Pacific Railway Limited by 221.8% in the 3rd quarter. Worth Venture Partners LLC now owns 4,846 shares of the transportation company’s stock worth $814,000 after buying an additional 3,340 shares in the last quarter. WCM Investment Management CA raised its holdings in shares of Canadian Pacific Railway Limited by 2.1% in the 3rd quarter. WCM Investment Management CA now owns 3,811,880 shares of the transportation company’s stock worth $640,510,000 after buying an additional 78,892 shares in the last quarter. Finally, Advisor Group Inc. raised its holdings in shares of Canadian Pacific Railway Limited by 24.1% in the 3rd quarter. Advisor Group Inc. now owns 7,560 shares of the transportation company’s stock worth $1,270,000 after buying an additional 1,470 shares in the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on the company. Argus reaffirmed a “buy” rating and set a $180.00 price target (up from $165.00) on shares of Canadian Pacific Railway Limited in a report on Tuesday, July 25th. Morgan Stanley dropped their price target on Canadian Pacific Railway Limited from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, July 25th. Cowen and Company reaffirmed a “buy” rating and set a $172.00 price target on shares of Canadian Pacific Railway Limited in a report on Friday, July 28th. BidaskClub cut Canadian Pacific Railway Limited from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Wolfe Research cut Canadian Pacific Railway Limited from an “outperform” rating to a “market perform” rating in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $191.19.

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Canadian Pacific Railway Limited (NYSE:CP) traded up $2.87 during trading hours on Wednesday, hitting $170.50. The stock had a trading volume of 423,600 shares, compared to its average volume of 655,654. Canadian Pacific Railway Limited has a 1-year low of $141.32 and a 1-year high of $179.17. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.53 and a quick ratio of 0.44. The company has a market cap of $24,300.85, a price-to-earnings ratio of 19.61, a P/E/G ratio of 1.59 and a beta of 1.20.

About Canadian Pacific Railway Limited

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The Company operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.

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

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