3G Capital Partners LP Reduces Stake in Canadian Pacific Railway Limited (CP)

3G Capital Partners LP lessened its position in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 822,482 shares of the transportation company’s stock after selling 113,152 shares during the quarter. Canadian Pacific Railway makes up about 12.8% of 3G Capital Partners LP’s investment portfolio, making the stock its 2nd largest position. 3G Capital Partners LP owned 0.57% of Canadian Pacific Railway worth $138,202,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. TD Asset Management Inc. boosted its stake in Canadian Pacific Railway by 5.7% in the 3rd quarter. TD Asset Management Inc. now owns 3,932,999 shares of the transportation company’s stock valued at $659,089,000 after buying an additional 213,056 shares in the last quarter. Swiss National Bank boosted its stake in Canadian Pacific Railway by 0.4% in the 2nd quarter. Swiss National Bank now owns 565,300 shares of the transportation company’s stock valued at $90,969,000 after buying an additional 2,500 shares in the last quarter. CIBC World Markets Inc. boosted its stake in Canadian Pacific Railway by 0.7% in the 2nd quarter. CIBC World Markets Inc. now owns 1,854,390 shares of the transportation company’s stock valued at $298,204,000 after buying an additional 13,562 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Canadian Pacific Railway by 62,170.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 934,062 shares of the transportation company’s stock valued at $150,200,000 after buying an additional 932,562 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Canadian Pacific Railway by 22.2% in the 3rd quarter. CIBC Asset Management Inc now owns 2,678,780 shares of the transportation company’s stock valued at $448,756,000 after buying an additional 486,845 shares in the last quarter. 67.52% of the stock is currently owned by institutional investors.

CP has been the topic of several recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $184.00 price target on shares of Canadian Pacific Railway in a research note on Thursday, September 21st. BMO Capital Markets reaffirmed a “buy” rating and issued a $238.00 price target on shares of Canadian Pacific Railway in a research note on Wednesday, October 18th. Deutsche Bank initiated coverage on Canadian Pacific Railway in a research note on Wednesday, November 1st. They issued a “buy” rating and a $209.00 price target on the stock. Argus boosted their price target on Canadian Pacific Railway from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, Zacks Investment Research lowered Canadian Pacific Railway from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $191.19.

Canadian Pacific Railway Limited (CP) traded up $0.49 during trading on Tuesday, reaching $183.25. The company’s stock had a trading volume of 437,070 shares, compared to its average volume of 284,750. The company has a current ratio of 0.53, a quick ratio of 0.44 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $26,620.00, a price-to-earnings ratio of 18.68, a P/E/G ratio of 1.74 and a beta of 1.20. Canadian Pacific Railway Limited has a one year low of $141.32 and a one year high of $184.20.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Friday, December 29th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, December 28th. Canadian Pacific Railway’s dividend payout ratio is currently 17.94%.

WARNING: “3G Capital Partners LP Reduces Stake in Canadian Pacific Railway Limited (CP)” was originally posted by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are reading this piece on another domain, it was stolen and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.truebluetribune.com/2018/01/03/canadian-pacific-railway-limited-cp-is-3g-capital-partners-lps-2nd-largest-position.html.

Canadian Pacific Railway Company Profile

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 (NYSE:CP)

Receive News & Ratings for Canadian Pacific Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Pacific Railway and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply