Avantax Advisory Services Inc. Grows Stock Holdings in Canadian Pacific Railway Limited (NYSE:CP)

Avantax Advisory Services Inc. raised its position in shares of Canadian Pacific Railway Limited (NYSE:CPGet Rating) (TSE:CP) by 4.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,085 shares of the transportation company’s stock after buying an additional 411 shares during the period. Avantax Advisory Services Inc.’s holdings in Canadian Pacific Railway were worth $606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. VeraBank N.A. boosted its position in shares of Canadian Pacific Railway by 1.3% during the second quarter. VeraBank N.A. now owns 10,328 shares of the transportation company’s stock worth $721,000 after buying an additional 135 shares during the period. Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of Canadian Pacific Railway by 1.2% during the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 11,851 shares of the transportation company’s stock worth $828,000 after buying an additional 137 shares during the period. Sound View Wealth Advisors Group LLC boosted its position in shares of Canadian Pacific Railway by 2.9% during the second quarter. Sound View Wealth Advisors Group LLC now owns 5,564 shares of the transportation company’s stock worth $389,000 after buying an additional 159 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of Canadian Pacific Railway by 57.3% in the third quarter. Hexagon Capital Partners LLC now owns 453 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 165 shares in the last quarter. Finally, Cetera Advisor Networks LLC raised its stake in shares of Canadian Pacific Railway by 2.4% in the second quarter. Cetera Advisor Networks LLC now owns 7,193 shares of the transportation company’s stock valued at $502,000 after acquiring an additional 172 shares in the last quarter. 72.31% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Railway Stock Up 1.8 %

CP opened at $79.21 on Monday. The business’s 50-day simple moving average is $77.89 and its 200-day simple moving average is $75.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.49 and a current ratio of 0.58. Canadian Pacific Railway Limited has a one year low of $65.17 and a one year high of $84.22. The stock has a market capitalization of $73.70 billion, a P/E ratio of 32.07, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01.

Canadian Pacific Railway (NYSE:CPGet Rating) (TSE:CP) last released its quarterly earnings results on Wednesday, October 26th. The transportation company reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. Canadian Pacific Railway had a return on equity of 8.77% and a net margin of 33.05%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.69 billion. Analysts anticipate that Canadian Pacific Railway Limited will post 2.75 EPS for the current year.

Canadian Pacific Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Investors of record on Friday, December 30th will be issued a dividend of $0.137 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, December 29th. Canadian Pacific Railway’s dividend payout ratio is currently 22.67%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CP shares. National Bank Financial increased their price objective on Canadian Pacific Railway from C$105.00 to C$106.00 in a research note on Friday, December 16th. Barclays increased their price objective on Canadian Pacific Railway from $81.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, January 11th. Susquehanna reduced their price objective on Canadian Pacific Railway from $84.00 to $79.00 in a research note on Wednesday, September 28th. CIBC increased their price objective on Canadian Pacific Railway from C$120.00 to C$130.00 in a research note on Wednesday, December 14th. Finally, Susquehanna Bancshares cut their price target on Canadian Pacific Railway from $84.00 to $79.00 and set a “positive” rating on the stock in a research note on Wednesday, September 28th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.20.

Canadian Pacific Railway Company Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding CP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Pacific Railway Limited (NYSE:CPGet Rating) (TSE:CP).

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.