Van ECK Associates Corp Purchases New Stake in Canadian Pacific Railway Limited (CP)

Van ECK Associates Corp purchased a new stake in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,096 shares of the transportation company’s stock, valued at approximately $856,000.

Several other large investors have also recently added to or reduced their stakes in the company. Icon Advisers Inc. Co. bought a new position in Canadian Pacific Railway during the third quarter worth $9,527,000. Mawer Investment Management Ltd. increased its position in Canadian Pacific Railway by 23.8% during the third quarter. Mawer Investment Management Ltd. now owns 1,213,962 shares of the transportation company’s stock worth $204,020,000 after acquiring an additional 233,468 shares during the period. Commonwealth Equity Services Inc increased its position in Canadian Pacific Railway by 15.3% during the third quarter. Commonwealth Equity Services Inc now owns 2,589 shares of the transportation company’s stock worth $435,000 after acquiring an additional 344 shares during the period. Worth Venture Partners LLC increased its position in Canadian Pacific Railway by 221.8% during the third quarter. Worth Venture Partners LLC now owns 4,846 shares of the transportation company’s stock worth $814,000 after acquiring an additional 3,340 shares during the period. Finally, WCM Investment Management CA increased its position in Canadian Pacific Railway by 2.1% during the third quarter. WCM Investment Management CA now owns 3,811,880 shares of the transportation company’s stock worth $640,510,000 after acquiring an additional 78,892 shares during the period. 67.57% of the stock is currently owned by institutional investors.

Shares of Canadian Pacific Railway Limited (NYSE CP) opened at $178.12 on Friday. 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 capitalization of $25,821.52, a PE ratio of 20.83, a PEG ratio of 1.69 and a beta of 1.20. Canadian Pacific Railway Limited has a 52 week low of $141.32 and a 52 week high of $179.17.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Friday, December 29th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.99%. Canadian Pacific Railway’s dividend payout ratio (DPR) is presently 18.62%.

CP has been the topic of several analyst reports. Wolfe Research lowered shares of Canadian Pacific Railway from an “outperform” rating to a “market perform” rating in a report on Monday, August 7th. BidaskClub lowered shares of Canadian Pacific Railway from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and issued a $184.00 price target on shares of Canadian Pacific Railway in a report on Wednesday, August 16th. Loop Capital raised shares of Canadian Pacific Railway from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Canadian Pacific Railway from a “buy” rating to a “hold” rating in a report on Monday, September 11th. One investment 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 stock presently has an average rating of “Buy” and a consensus price target of $191.19.

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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 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)

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