Causeway Capital Management LLC Holding in Canadian Pac Ry LTD (CP) Trimmed by $2.39 Billion

October 2, 2018 - By Ellis Scott

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Causeway Capital Management Llc decreased its stake in Canadian Pac Ry Ltd (CP) by 73.4% based on its latest 2018Q2 regulatory filing with the SEC. Causeway Capital Management Llc sold 3.81 million shares as the company’s stock rose 6.74% with the market. The institutional investor held 1.38 million shares of the railroads company at the end of 2018Q2, valued at $868.18 million, down from 5.19 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 $30.65 billion market cap company. The stock increased 2.05% or $4.35 during the last trading session, reaching $216.29. About 828,526 shares traded or 64.66% up from the average. Canadian Pacific Railway Limited (NYSE:CP) has risen 28.67% since October 2, 2017 and is uptrending. It has outperformed by 13.05% the S&P500.

Causeway Capital Management Llc, which manages about $27.14B and $9.90B US Long portfolio, upped its stake in Baidu Inc (NASDAQ:BIDU) by 326,938 shares to 3.91M shares, valued at $949.72M in 2018Q2, according to the filing. It also increased its holding in Novartis A G (NYSE:NVS) by 50,885 shares in the quarter, for a total of 461,962 shares, and has risen its stake in Bank Amer Corp (NYSE:BAC).

Analysts await Canadian Pacific Railway Limited (NYSE:CP) to report earnings on October, 16. They expect $2.73 earnings per share, up 18.18 % or $0.42 from last year’s $2.31 per share. CP’s profit will be $386.80M for 19.81 P/E if the $2.73 EPS becomes a reality. After $2.45 actual earnings per share reported by Canadian Pacific Railway Limited for the previous quarter, Wall Street now forecasts 11.43 % EPS growth.

More important recent Canadian Pacific Railway Limited (NYSE:CP) news were published by: Seekingalpha.com which released: “Cenovus signs deals with CN Rail, CP Rail to transport oil to US Gulf Coast” on September 26, 2018, also Fool.com published article titled: “With Pipelines Filled to the Brim, Oil Companies are Turning to Railroads for Relief”, Seekingalpha.com published: “Canadian Pacific Railway declares $0.65 dividend” on September 18, 2018. More interesting news about Canadian Pacific Railway Limited (NYSE:CP) was released by: Benzinga.com and their article: “Railroads Have Spent A Lot Of Money The Last 10 Years, And Customers Have Barely Benefited: FTR Speaker” with publication date: September 12, 2018.

Canadian Pacific Railway Limited (NYSE:CP) Ratings Coverage

Among 6 analysts covering Canadian Pacific Railway Limited Common Stock (NYSE:CP), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. Canadian Pacific Railway Limited Common Stock had 8 analyst reports since April 6, 2018 according to SRatingsIntel. The stock of Canadian Pacific Railway Limited (NYSE:CP) has “Outperform” rating given on Thursday, April 19 by Credit Suisse. The firm has “Overweight” rating by Morgan Stanley given on Friday, April 6. The firm has “Buy” rating by Bank of America given on Monday, October 1. As per Friday, June 22, the company rating was maintained by Seaport Global. The company was maintained on Tuesday, July 31 by Argus Research. Stifel Nicolaus maintained it with “Hold” rating and $201 target in Thursday, May 24 report. Credit Suisse maintained the stock with “Outperform” rating in Thursday, July 19 report. On Thursday, July 19 the stock rating was maintained by Stifel Nicolaus with “Hold”.

Canadian Pacific Railway Limited (NYSE:CP) Ratings Chart

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