Causeway Capital Management LLC Decreased Stake in Canadian Pac Ry LTD (CP) by $7.95 Million as Stock Declined

May 16, 2018 - By Richard Conner

Canadian Pacific Railway Limited (NYSE:CP) Logo

Causeway Capital Management Llc decreased its stake in Canadian Pac Ry Ltd (CP) by 0.82% based on its latest 2017Q4 regulatory filing with the SEC. Causeway Capital Management Llc sold 43,675 shares as the company’s stock declined 4.52% with the market. The institutional investor held 5.26M shares of the railroads company at the end of 2017Q4, valued at $960.54M, down from 5.30 million at the end of the previous reported quarter. Causeway Capital Management Llc who had been investing in Canadian Pac Ry Ltd for a number of months, seems to be less bullish one the $26.62B market cap company. The stock decreased 0.03% or $0.06 during the last trading session, reaching $184.93. About 262,330 shares traded. Canadian Pacific Railway Limited (NYSE:CP) has risen 19.42% since May 16, 2017 and is uptrending. It has outperformed by 7.87% the S&P500.

Causeway Capital Management Llc, which manages about $27.14 billion and $9.43 billion US Long portfolio, upped its stake in Cdn Imperial Bk Comm Toronto (NYSE:CM) by 996,040 shares to 1.49 million shares, valued at $145.36 million in 2017Q4, according to the filing. It also increased its holding in Viacom Inc New (NASDAQ:VIAB) by 635,131 shares in the quarter, for a total of 4.46 million shares, and has risen its stake in British Amern Tob Plc (NYSEMKT:BTI).

Analysts await Canadian Pacific Railway Limited (NYSE:CP) to report earnings on July, 18. They expect $2.47 earnings per share, up 19.90 % or $0.41 from last year’s $2.06 per share. CP’s profit will be $355.59M for 18.72 P/E if the $2.47 EPS becomes a reality. After $2.13 actual earnings per share reported by Canadian Pacific Railway Limited for the previous quarter, Wall Street now forecasts 15.96 % EPS growth.

More notable recent Canadian Pacific Railway Limited (NYSE:CP) news were published by: Fool.ca which released: “TFSA Investors: 2 Top Canadian Dividend-Growth Stocks to Buy Today” on May 11, 2018, also Prnewswire.com with their article: “CP announces results of annual meeting of shareholders and director elections” published on May 10, 2018, Prnewswire.com published: “CIRB sets new dates for TCRC-Train & Engine and IBEW ratification vote” on May 16, 2018. More interesting news about Canadian Pacific Railway Limited (NYSE:CP) were released by: Prnewswire.com and their article: “Railroads Stocks on Investors’ Radar — Canadian Pacific Railway, Greenbrier, Trinity Industries, and Union Pacific” published on May 08, 2018 as well as Finance.Yahoo.com‘s news article titled: “5 Notable Dividend Increases From the Past Week — Including Phillips 66” with publication date: May 15, 2018.

Canadian Pacific Railway Limited (NYSE:CP) Ratings Coverage

Among 5 analysts covering Canadian Pacific (NYSE:CP), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Canadian Pacific had 7 analyst reports since January 16, 2018 according to SRatingsIntel. The firm has “Overweight” rating given on Friday, April 6 by Morgan Stanley. Cowen & Co maintained the shares of CP in report on Wednesday, February 28 with “Buy” rating. Goldman Sachs upgraded the shares of CP in report on Tuesday, February 13 to “Buy” rating. The stock of Canadian Pacific Railway Limited (NYSE:CP) earned “Hold” rating by Susquehanna on Monday, April 2. Susquehanna maintained Canadian Pacific Railway Limited (NYSE:CP) rating on Tuesday, January 16. Susquehanna has “Hold” rating and $198.0 target. The stock has “Buy” rating by Credit Suisse on Thursday, March 8. The rating was maintained by Credit Suisse on Thursday, April 19 with “Outperform”.

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