CIBC Asset Management Inc Purchases 486,845 Shares of Canadian Pacific Railway Limited (CP)

CIBC Asset Management Inc raised its position in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 22.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,678,780 shares of the transportation company’s stock after purchasing an additional 486,845 shares during the quarter. Canadian Pacific Railway Limited accounts for approximately 2.8% of CIBC Asset Management Inc’s holdings, making the stock its 11th biggest position. CIBC Asset Management Inc owned about 1.85% of Canadian Pacific Railway Limited worth $448,756,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership grew its stake in shares of Canadian Pacific Railway Limited by 2.1% during the 2nd quarter. Artisan Partners Limited Partnership now owns 6,018,329 shares of the transportation company’s stock valued at $967,807,000 after purchasing an additional 125,306 shares during the period. WCM Investment Management CA lifted its position in shares of Canadian Pacific Railway Limited by 6.4% during the 2nd quarter. WCM Investment Management CA now owns 3,732,988 shares of the transportation company’s stock valued at $600,302,000 after buying an additional 223,142 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of Canadian Pacific Railway Limited by 6.0% during the 2nd quarter. TD Asset Management Inc. now owns 3,719,943 shares of the transportation company’s stock valued at $597,654,000 after buying an additional 212,179 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Canadian Pacific Railway Limited by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,225,817 shares of the transportation company’s stock valued at $518,743,000 after buying an additional 145,603 shares in the last quarter. Finally, CIBC World Markets Inc. lifted its position in shares of Canadian Pacific Railway Limited by 0.7% during the 2nd quarter. CIBC World Markets Inc. now owns 1,854,390 shares of the transportation company’s stock valued at $298,204,000 after buying an additional 13,562 shares in the last quarter. Institutional investors and hedge funds own 66.39% of the company’s stock.

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CP has been the topic of a number of analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $172.00 price objective on shares of Canadian Pacific Railway Limited in a research report on Friday, July 28th. Bank of America Corporation lifted their price objective on Canadian Pacific Railway Limited from $190.00 to $193.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. Argus reaffirmed a “buy” rating and set a $180.00 price objective (up from $165.00) on shares of Canadian Pacific Railway Limited in a research report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $184.00 price objective on shares of Canadian Pacific Railway Limited in a research report on Wednesday, August 16th. Finally, Loop Capital raised Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. Canadian Pacific Railway Limited currently has a consensus rating of “Buy” and an average price target of $191.19.

Shares of Canadian Pacific Railway Limited (NYSE CP) traded down $1.02 on Monday, hitting $175.26. The stock had a trading volume of 373,900 shares, compared to its average volume of 659,918. The stock has a market cap of $25,150.00, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.66 and a beta of 1.21. Canadian Pacific Railway Limited has a twelve month low of $141.32 and a twelve month high of $179.17. The company has a quick ratio of 0.44, a current ratio of 0.53 and a debt-to-equity ratio of 1.33.

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.

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

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