Insider Selling: Canadian Pacific Railway Ltd. (CP) VP Sells $2,288,880.00 in Stock
Canadian Pacific Railway Ltd. (NYSE:CP) (TSE:CP) VP Peter John Edwards sold 15,300 shares of Canadian Pacific Railway stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $149.60, for a total transaction of $2,288,880.00. Following the transaction, the vice president now directly owns 16,333 shares in the company, valued at approximately $2,443,416.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Canadian Pacific Railway Ltd. (NYSE:CP) opened at 149.02 on Wednesday. The stock has a 50 day moving average of $146.40 and a 200-day moving average of $142.74. The company has a market capitalization of $21.80 billion, a PE ratio of 19.94 and a beta of 1.08. Canadian Pacific Railway Ltd. has a 12-month low of $97.09 and a 12-month high of $157.34.
Canadian Pacific Railway (NYSE:CP) last released its quarterly earnings results on Wednesday, October 19th. The company reported $2.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by $0.06. Canadian Pacific Railway had a net margin of 24.33% and a return on equity of 30.92%. The company earned $1.55 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business posted $2.69 EPS. Canadian Pacific Railway’s revenue was down 9.1% compared to the same quarter last year. Equities analysts expect that Canadian Pacific Railway Ltd. will post $7.80 earnings per share for the current year.
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Several equities analysts have weighed in on CP shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $171.00 price target on shares of Canadian Pacific Railway in a report on Wednesday, October 26th. Vertical Research started coverage on shares of Canadian Pacific Railway in a report on Tuesday, October 11th. They set a “buy” rating on the stock. Raymond James Financial Inc. downgraded shares of Canadian Pacific Railway from a “strong-buy” rating to an “outperform” rating in a report on Monday, October 17th. Scotiabank reaffirmed an “outperform” rating and set a $220.00 price target (up previously from $210.00) on shares of Canadian Pacific Railway in a report on Saturday, October 22nd. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $172.00 price target on shares of Canadian Pacific Railway in a report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $182.15.
Large investors have recently added to or reduced their stakes in the stock. Brookfield Asset Management Inc. bought a new stake in Canadian Pacific Railway during the third quarter worth about $4,657,000. D.A. Davidson & CO. raised its position in shares of Canadian Pacific Railway by 38.3% in the third quarter. D.A. Davidson & CO. now owns 2,493 shares of the company’s stock worth $380,000 after buying an additional 690 shares during the last quarter. Schafer Cullen Capital Management Inc. purchased a new position in shares of Canadian Pacific Railway during the third quarter worth $209,000. Sawtooth Solutions LLC raised its position in shares of Canadian Pacific Railway by 2.8% in the third quarter. Sawtooth Solutions LLC now owns 3,083 shares of the company’s stock worth $471,000 after buying an additional 85 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. raised its position in shares of Canadian Pacific Railway by 45.6% in the third quarter. PCJ Investment Counsel Ltd. now owns 507,621 shares of the company’s stock worth $77,330,000 after buying an additional 159,000 shares during the last quarter. 68.67% of the stock is currently owned by hedge funds and other institutional investors.
About Canadian Pacific Railway
Canadian Pacific Railway Limited (CP), together with its subsidiaries, operates a transcontinental railway in Canada and the United States. The Company operates in rail transportation segment. The Company’s business mix includes bulk commodities, merchandise freight and intermodal traffic over a network of approximately 12,500 miles, serving the principal business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the United States Northeast and Midwest regions.
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