M&T Bank Corp Lowers Stock Position in Canadian Pacific Railway Limited (NYSE:CP)

M&T Bank Corp lessened its holdings in Canadian Pacific Railway Limited (NYSE:CP – Get Rating) (TSE:CP) by 4.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 141,730 shares of the transportation company’s stock after selling 7,256 shares during the period. M&T Bank Corp’s holdings in Canadian Pacific Railway were worth $9,456,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CP. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Canadian Pacific Railway in the 3rd quarter worth approximately $29,000. Hexagon Capital Partners LLC lifted its position in Canadian Pacific Railway by 57.3% during 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 during the last quarter. Pacifica Partners Inc. lifted its position in Canadian Pacific Railway by 102.8% during the third quarter. Pacifica Partners Inc. now owns 515 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 261 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Canadian Pacific Railway during the second quarter valued at approximately $45,000. Finally, Private Trust Co. NA purchased a new stake in Canadian Pacific Railway during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 72.31% of the company’s stock.

Canadian Pacific Railway Stock Performance

CP opened at $77.10 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.47. The company has a market cap of $71.76 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.24 and a beta of 1.02. Canadian Pacific Railway Limited has a 52-week low of $65.17 and a 52-week high of $84.22. The firm’s fifty day simple moving average is $77.48 and its two-hundred day simple moving average is $75.77.

Canadian Pacific Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 24th. Shareholders of record on Friday, March 31st will be issued a dividend of $0.1424 per share. This represents a $0.57 annualized dividend and a yield of 0.74%. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, March 30th. Canadian Pacific Railway’s dividend payout ratio (DPR) is presently 19.79%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CP. CIBC decreased their price target on shares of Canadian Pacific Railway from C$128.00 to C$125.00 in a report on Wednesday, February 1st. Wells Fargo & Company increased their price objective on shares of Canadian Pacific Railway from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft upgraded shares of Canadian Pacific Railway from a “hold” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $98.00 in a research note on Monday, November 28th. StockNews.com initiated coverage on shares of Canadian Pacific Railway in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Atb Cap Markets reiterated an “outperform” rating on shares of Canadian Pacific Railway in a research note on Tuesday, December 20th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Canadian Pacific Railway currently has a consensus rating of “Moderate Buy” and an average price target of $90.00.

Canadian Pacific Railway Profile

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Canadian Pacific Railway Ltd. operates as a holding company, which engages in the provision of rail services. It offers a suite of freight transportation services, logistics solutions and supply chain expertise. The company was founded in 1881 and is headquartered in Calgary, Canada.