Renaissance Technologies LLC cut its stake in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,500 shares of the transportation company’s stock after selling 700 shares during the period. Renaissance Technologies LLC owned 0.17% of Canadian Pacific Railway worth $43,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Canadian Pacific Railway during the second quarter worth $103,000. Signaturefd LLC acquired a new stake in shares of Canadian Pacific Railway during the first quarter worth $116,000. Zions Bancorporation acquired a new stake in shares of Canadian Pacific Railway during the second quarter worth $134,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Canadian Pacific Railway during the first quarter worth $175,000. Finally, Credit Agricole S A acquired a new stake in shares of Canadian Pacific Railway during the first quarter worth $200,000. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

CP stock opened at $205.55 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.48 and a current ratio of 0.57. Canadian Pacific Railway Limited has a fifty-two week low of $158.08 and a fifty-two week high of $211.44. The stock has a market capitalization of $29.52 billion, a P/E ratio of 21.96, a PEG ratio of 1.74 and a beta of 1.08.

Canadian Pacific Railway (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, July 18th. The transportation company reported $3.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.76. Canadian Pacific Railway had a net margin of 33.92% and a return on equity of 27.87%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company earned $2.77 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. research analysts forecast that Canadian Pacific Railway Limited will post 10.22 earnings per share for the current fiscal year.

A number of analysts have weighed in on CP shares. Argus increased their target price on shares of Canadian Pacific Railway from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Credit Suisse Group increased their target price on shares of Canadian Pacific Railway from $210.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, July 19th. Zacks Investment Research raised shares of Canadian Pacific Railway from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. Stifel Nicolaus started coverage on shares of Canadian Pacific Railway in a report on Thursday, May 24th. They set a “hold” rating and a $201.00 target price on the stock. Finally, Loop Capital reissued a “buy” rating on shares of Canadian Pacific Railway in a report on Thursday, July 19th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Canadian Pacific Railway has a consensus rating of “Buy” and a consensus target price of $217.11.

About Canadian Pacific Railway

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 finished vehicles and machineries, automotive parts, chemicals and plastics, petroleum and crude products, and metals and minerals, as well as forest, industrial, and consumer products.

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Institutional Ownership by Quarter for Canadian Pacific Railway (NYSE:CP)

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