Franklin Resources Inc. raised its stake in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 2,220,581 shares of the transportation company’s stock after buying an additional 13,407 shares during the period. Franklin Resources Inc.’s holdings in Canadian Pacific Railway were worth $405,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in the business. Cerebellum GP LLC acquired a new position in shares of Canadian Pacific Railway in the fourth quarter valued at about $133,000. SeaCrest Wealth Management LLC acquired a new position in shares of Canadian Pacific Railway in the fourth quarter valued at about $180,000. Jones Collombin Investment Counsel Inc grew its stake in shares of Canadian Pacific Railway by 46.7% in the fourth quarter. Jones Collombin Investment Counsel Inc now owns 1,012 shares of the transportation company’s stock valued at $185,000 after acquiring an additional 322 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of Canadian Pacific Railway in the fourth quarter valued at about $192,000. Finally, Boston Private Wealth LLC acquired a new position in shares of Canadian Pacific Railway in the third quarter valued at about $203,000. Hedge funds and other institutional investors own 68.47% of the company’s stock.
Several research firms recently commented on CP. Cowen upped their price target on shares of Canadian Pacific Railway from $184.00 to $207.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Goldman Sachs Group upgraded shares of Canadian Pacific Railway from a “neutral” rating to a “buy” rating and upped their price target for the company from $176.72 to $213.00 in a research note on Tuesday, February 13th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $200.00 price objective (down previously from $209.00) on shares of Canadian Pacific Railway in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. Canadian Pacific Railway currently has a consensus rating of “Buy” and an average target price of $194.13.
Canadian Pacific Railway (NYSE:CP) (TSE:CP) last posted its earnings results on Thursday, January 18th. The transportation company reported $2.54 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.03). The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. Canadian Pacific Railway had a return on equity of 29.96% and a net margin of 36.88%. analysts expect that Canadian Pacific Railway Limited will post 10.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 23rd will be issued a $0.4473 dividend. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $1.79 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from Canadian Pacific Railway’s previous quarterly dividend of $0.44. Canadian Pacific Railway’s dividend payout ratio is 14.33%.
COPYRIGHT VIOLATION WARNING: “Franklin Resources Inc. Grows Holdings in Canadian Pacific Railway Limited (CP)” was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://sportsperspectives.com/2018/03/11/franklin-resources-inc-grows-holdings-in-canadian-pacific-railway-limited-cp.html.
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 operates through rail transportation segment. The Company’s transports bulk commodities, merchandise freight, and intermodal traffic over a network of approximately 12,400 miles.
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:CP) (TSE: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.