FineMark National Bank & Trust Purchases New Stake in Canadian Pacific Railway Limited (CP)

FineMark National Bank & Trust purchased a new position in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,238 shares of the transportation company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Artisan Partners Limited Partnership boosted its position in shares of Canadian Pacific Railway Limited by 2.1% during the second quarter. Artisan Partners Limited Partnership now owns 6,018,329 shares of the transportation company’s stock worth $967,807,000 after purchasing an additional 125,306 shares in the last quarter. WCM Investment Management CA boosted its position in shares of Canadian Pacific Railway Limited by 6.4% during the second quarter. WCM Investment Management CA now owns 3,732,988 shares of the transportation company’s stock worth $600,302,000 after purchasing an additional 223,142 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Canadian Pacific Railway Limited by 6.0% during the second quarter. TD Asset Management Inc. now owns 3,719,943 shares of the transportation company’s stock worth $597,654,000 after purchasing an additional 212,179 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Canadian Pacific Railway Limited by 4.7% during the second quarter. Vanguard Group Inc. now owns 3,225,817 shares of the transportation company’s stock worth $518,743,000 after purchasing an additional 145,603 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Canadian Pacific Railway Limited by 31.7% during the second quarter. CIBC Asset Management Inc now owns 2,191,935 shares of the transportation company’s stock worth $352,265,000 after purchasing an additional 527,453 shares in the last quarter. 66.55% of the stock is currently owned by institutional investors.

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A number of equities analysts have recently weighed in on the stock. J P Morgan Chase & Co raised shares of Canadian Pacific Railway Limited from a “neutral” rating to an “overweight” rating in a research report on Thursday, October 12th. Stifel Nicolaus reissued a “buy” rating and set a $184.00 price target on shares of Canadian Pacific Railway Limited in a research report on Wednesday, August 16th. Cowen and Company lifted their price target on shares of Canadian Pacific Railway Limited from $182.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 18th. Argus reissued a “buy” rating and set a $180.00 price target (up from $165.00) on shares of Canadian Pacific Railway Limited in a research report on Tuesday, July 25th. Finally, Zacks Investment Research cut shares of Canadian Pacific Railway Limited from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $192.07.

Shares of Canadian Pacific Railway Limited (NYSE:CP) opened at $172.95 on Friday. The stock has a market cap of $25.34 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.66 and a beta of 1.21. Canadian Pacific Railway Limited has a 52 week low of $139.29 and a 52 week 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.

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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