Canadian Pacific Railway Ltd. (NYSE:CP) shares saw unusually-strong trading volume on Tuesday . 1,383,458 shares changed hands during trading, an increase of 48% from the previous session’s volume of 934,074 shares.The stock last traded at $143.09 and had previously closed at $143.78.

Several brokerages have recently commented on CP. Credit Suisse Group AG reissued a “buy” rating on shares of Canadian Pacific Railway in a research note on Saturday, June 4th. Buckingham Research increased their price objective on Canadian Pacific Railway from $149.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, April 21st. Cowen and Company increased their price objective on Canadian Pacific Railway from $142.00 to $162.00 and gave the stock an “outperform” rating in a research note on Thursday, April 21st. Raymond James Financial Inc. reissued an “outperform” rating and issued a $210.00 price objective (up from $185.00) on shares of Canadian Pacific Railway in a research note on Monday, April 18th. Finally, Sanford C. Bernstein increased their price objective on Canadian Pacific Railway from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $174.89.

The stock has a market cap of $21.90 billion and a price-to-earnings ratio of 18.64. The firm’s 50 day moving average price is $131.24 and its 200-day moving average price is $129.21.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 24th. Stockholders of record on Friday, September 30th will be given a dividend of $0.3858 per share. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.27. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Wednesday, September 28th.

In other Canadian Pacific Railway news, Director Matthew H. Paull acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, April 26th. The stock was purchased at an average price of $143.89 per share, with a total value of $143,890.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $143,890. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Pershing Square Capital Manage sold 4,100,000 shares of the business’s stock in a transaction on Friday, April 22nd. The shares were sold at an average price of $148.25, for a total transaction of $607,825,000.00. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently modified their holdings of CP. Morgan Stanley increased its position in shares of Canadian Pacific Railway by 5.7% in the fourth quarter. Morgan Stanley now owns 2,241,118 shares of the company’s stock valued at $285,966,000 after buying an additional 119,961 shares in the last quarter. WCM Investment Management CA increased its position in shares of Canadian Pacific Railway by 6.6% in the fourth quarter. WCM Investment Management CA now owns 2,009,431 shares of the company’s stock valued at $256,404,000 after buying an additional 124,800 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Canadian Pacific Railway by 0.6% in the fourth quarter. Brown Advisory Inc. now owns 346,786 shares of the company’s stock valued at $44,250,000 after buying an additional 2,132 shares in the last quarter. Alpine Woods Capital Investors LLC increased its position in shares of Canadian Pacific Railway by 2.8% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 130,400 shares of the company’s stock valued at $16,639,000 after buying an additional 3,600 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Canadian Pacific Railway by 4.7% in the fourth quarter. Schroder Investment Management Group now owns 130,333 shares of the company’s stock valued at $23,033,000 after buying an additional 5,833 shares in the last quarter.

Canadian Pacific Railway Limited (CP), together with its subsidiaries, operates a transcontinental railway in Canada and the United States. The Company operates in rail transportation segment. The Company’s business mix includes bulk commodities, merchandise freight and intermodal traffic over a network of approximately 12,500 miles, serving the principal business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the United States Northeast and Midwest regions.

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