Canadian Pacific Railway Ltd (NYSE:CP) Stake Lifted by PNC Financial Services Group Inc.

25 May 2020, 12:35 by Danessa Lincoln

PNC Financial Services Group Inc. lifted its stake in shares of Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,867 shares of the transportation company’s stock after acquiring an additional 375 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Canadian Pacific Railway were worth $4,582,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Bowen Hanes & Co. Inc. lifted its position in shares of Canadian Pacific Railway by 1,025.2% during the 4th quarter. Bowen Hanes & Co. Inc. now owns 120,620 shares of the transportation company’s stock valued at $30,752,000 after acquiring an additional 109,900 shares during the last quarter. FMR LLC raised its holdings in Canadian Pacific Railway by 18.4% during the fourth quarter. FMR LLC now owns 2,227,162 shares of the transportation company’s stock valued at $567,755,000 after buying an additional 346,723 shares in the last quarter. Fieldpoint Private Securities LLC lifted its holdings in Canadian Pacific Railway by 19.8% in the 4th quarter. Fieldpoint Private Securities LLC now owns 4,616 shares of the transportation company’s stock worth $1,177,000 after purchasing an additional 764 shares during the last quarter. Carmichael Hill & Associates Inc. acquired a new stake in shares of Canadian Pacific Railway in the fourth quarter valued at about $25,000. Finally, State Street Corp grew its holdings in Canadian Pacific Railway by 10.9% in the 4th quarter. State Street Corp now owns 72,410 shares of the transportation company’s stock valued at $18,507,000 after buying an additional 7,125 shares during the last quarter. 67.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CP opened at $241.13 on Monday. Canadian Pacific Railway Ltd has a 1 year low of $173.26 and a 1 year high of $275.13. The firm’s 50-day moving average is $224.66 and its 200-day moving average is $240.64. The company has a current ratio of 0.78, a quick ratio of 0.69 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $32.70 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.76 and a beta of 0.93.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Tuesday, April 21st. The transportation company reported $4.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.86 by $1.56. Canadian Pacific Railway had a net margin of 29.95% and a return on equity of 35.29%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the business posted $2.79 earnings per share. Canadian Pacific Railway’s revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Canadian Pacific Railway Ltd will post 11.72 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Friday, June 26th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Thursday, June 25th. Canadian Pacific Railway’s dividend payout ratio (DPR) is currently 19.05%.

A number of research analysts have commented on CP shares. Bank of America raised their price target on shares of Canadian Pacific Railway from $294.00 to $299.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. TD Securities upped their price target on Canadian Pacific Railway from $345.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Desjardins reissued a “hold” rating on shares of Canadian Pacific Railway in a report on Sunday, April 19th. UBS Group boosted their price target on shares of Canadian Pacific Railway from $321.00 to $341.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $361.00 price objective on shares of Canadian Pacific Railway in a report on Friday, March 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $301.23.

Canadian Pacific Railway Profile

Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.