Canadian Pacific Railway Ord (CP) Shareholder Canal Insurance Company Has Trimmed Holding by $2.82 Million as Share Value Rose; Teva Pharmaceutical Inds LTD (TEVA) Shareholder Private Management Group Has Increased Its Holding by $3.42 Million

October 6, 2017 - By Darrin Black

Canal Insurance Company decreased its stake in Canadian Pacific Railway Ord (CP) by 36.97% based on its latest 2017Q2 regulatory filing with the SEC. Canal Insurance Company sold 17,600 shares as the company’s stock rose 4.01% with the market. The institutional investor held 30,000 shares of the railroads company at the end of 2017Q2, valued at $4.82 million, down from 47,600 at the end of the previous reported quarter. Canal Insurance Company who had been investing in Canadian Pacific Railway Ord for a number of months, seems to be less bullish one the $24.11 billion market cap company. The stock declined 0.52% or $0.86 reaching $164.38 per share. About 165,724 shares traded. Canadian Pacific Railway Limited (USA) (NYSE:CP) has risen 21.39% since October 6, 2016 and is uptrending. It has outperformed by 4.69% the S&P500.

Private Management Group Inc increased its stake in Teva Pharmaceutical Inds Ltd (TEVA) by 16.19% based on its latest 2017Q2 regulatory filing with the SEC. Private Management Group Inc bought 103,573 shares as the company’s stock declined 15.11% while stock markets rallied. The institutional investor held 743,201 shares of the major pharmaceuticals company at the end of 2017Q2, valued at $24.69M, up from 639,628 at the end of the previous reported quarter. Private Management Group Inc who had been investing in Teva Pharmaceutical Inds Ltd for a number of months, seems to be bullish on the $18.77B market cap company. The stock rose 0.32% or $0.05 reaching $15.73 per share. About 9.58M shares traded. Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) has declined 41.70% since October 6, 2016 and is downtrending. It has underperformed by 58.40% the S&P500.

More recent Canadian Pacific Railway Limited (USA) (NYSE:CP) news were published by: Benzinga.com which released: “Riding The Rails: Canadian Train Stocks Preferred To CSX, Union Pacific” on October 02, 2017. Also Streetinsider.com published the news titled: “National Bank Downgrades Canadian Pacific Railway Limited (CP) to Sector Perform” on September 13, 2017. Business.Financialpost.com‘s news article titled: “Canadian rail giants say Bill C-49 proposal on long-haul routes give US …” with publication date: September 12, 2017 was also an interesting one.

Among 25 analysts covering Canadian Pacific (NYSE:CP), 17 have Buy rating, 0 Sell and 8 Hold. Therefore 68% are positive. Canadian Pacific had 59 analyst reports since September 30, 2015 according to SRatingsIntel. The rating was downgraded by Canaccord Genuity on Wednesday, October 21 to “Hold”. Loop Capital downgraded the stock to “Hold” rating in Friday, April 21 report. Loop Capital upgraded the stock to “Buy” rating in Wednesday, January 4 report. The firm has “Buy” rating given on Monday, September 18 by Stifel Nicolaus. Atlantic Securities initiated Canadian Pacific Railway Limited (USA) (NYSE:CP) on Thursday, August 11 with “Overweight” rating. Citigroup maintained it with “Buy” rating and $155 target in Wednesday, March 30 report. The stock of Canadian Pacific Railway Limited (USA) (NYSE:CP) has “Buy” rating given on Monday, October 24 by Seaport Global. The stock of Canadian Pacific Railway Limited (USA) (NYSE:CP) earned “Outperform” rating by Cowen & Co on Wednesday, October 21. The rating was downgraded by Buckingham Research on Thursday, July 21 to “Neutral”. National Bank Canada downgraded Canadian Pacific Railway Limited (USA) (NYSE:CP) on Wednesday, September 13 to “Sector Perform” rating.

Analysts await Canadian Pacific Railway Limited (USA) (NYSE:CP) to report earnings on October, 18. They expect $2.38 earnings per share, up 13.88% or $0.29 from last year’s $2.09 per share. CP’s profit will be $349.08M for 17.27 P/E if the $2.38 EPS becomes a reality. After $2.06 actual earnings per share reported by Canadian Pacific Railway Limited (USA) for the previous quarter, Wall Street now forecasts 15.53% EPS growth.

Canal Insurance Company, which manages about $273.74 million US Long portfolio, upped its stake in Aerovironment Ord (NASDAQ:AVAV) by 20,000 shares to 50,000 shares, valued at $1.91 million in 2017Q2, according to the filing. It also increased its holding in General Dynamics Ord (NYSE:GD) by 19,800 shares in the quarter, for a total of 20,000 shares, and has risen its stake in Garmin Ord (NASDAQ:GRMN).

Private Management Group Inc, which manages about $2.22 billion and $1.83 billion US Long portfolio, decreased its stake in Neff Corp by 248,647 shares to 442,576 shares, valued at $8.41M in 2017Q2, according to the filing. It also reduced its holding in Bank New York Mellon Corp (NYSE:BK) by 7,049 shares in the quarter, leaving it with 507,949 shares, and cut its stake in Darling Ingredients Inc (NYSE:DAR).

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