Cidel Asset Management Inc. Sells 71,500 Shares of Canadian Pacific Railway Limited (CP)

Cidel Asset Management Inc. lessened its holdings in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 12.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 492,365 shares of the transportation company’s stock after selling 71,500 shares during the period. Canadian Pacific Railway Limited accounts for approximately 3.7% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Cidel Asset Management Inc. owned approximately 0.34% of Canadian Pacific Railway Limited worth $82,482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Captrust Financial Advisors acquired a new position in Canadian Pacific Railway Limited during the second quarter worth approximately $130,000. Northwestern Mutual Wealth Management Co. increased its position in Canadian Pacific Railway Limited by 23.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 876 shares of the transportation company’s stock worth $141,000 after buying an additional 167 shares during the period. Parallel Advisors LLC increased its position in Canadian Pacific Railway Limited by 13.0% during the second quarter. Parallel Advisors LLC now owns 983 shares of the transportation company’s stock worth $154,000 after buying an additional 113 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in Canadian Pacific Railway Limited during the second quarter worth approximately $163,000. Finally, FineMark National Bank & Trust acquired a new position in Canadian Pacific Railway Limited during the third quarter worth approximately $208,000. 66.55% of the stock is currently owned by institutional investors and hedge funds.

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Several research analysts have commented on the company. Zacks Investment Research raised Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating and set a $181.00 price target on the stock in a research report on Wednesday, July 12th. BidaskClub lowered Canadian Pacific Railway Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Argus reaffirmed a “buy” rating and set a $180.00 price target (up previously from $165.00) on shares of Canadian Pacific Railway Limited in a research report on Tuesday, July 25th. Deutsche Bank AG assumed coverage on Canadian Pacific Railway Limited in a research report on Wednesday. They set a “buy” rating and a $209.00 price target on the stock. Finally, Cowen and Company lifted their target price on Canadian Pacific Railway Limited from $182.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $192.07.

Canadian Pacific Railway Limited Company 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.

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

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