NN Investment Partners Holdings N.V. boosted its stake in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 13,077 shares of the transportation company’s stock after buying an additional 100 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Canadian Pacific Railway Limited were worth $2,104,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. raised its stake in shares of Canadian Pacific Railway Limited by 21.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 3,701 shares of the transportation company’s stock worth $542,000 after buying an additional 645 shares during the period. Reliance Trust Co. of Delaware raised its stake in shares of Canadian Pacific Railway Limited by 17.5% in the first quarter. Reliance Trust Co. of Delaware now owns 4,825 shares of the transportation company’s stock worth $709,000 after buying an additional 720 shares during the period. Viking Fund Management LLC raised its stake in shares of Canadian Pacific Railway Limited by 5.3% in the first quarter. Viking Fund Management LLC now owns 100,000 shares of the transportation company’s stock worth $14,692,000 after buying an additional 5,000 shares during the period. Skylands Capital LLC raised its stake in shares of Canadian Pacific Railway Limited by 124.3% in the first quarter. Skylands Capital LLC now owns 24,000 shares of the transportation company’s stock worth $3,526,000 after buying an additional 13,300 shares during the period. Finally, Beutel Goodman & Co Ltd. raised its stake in shares of Canadian Pacific Railway Limited by 4.4% in the first quarter. Beutel Goodman & Co Ltd. now owns 1,603,202 shares of the transportation company’s stock worth $235,105,000 after buying an additional 68,085 shares during the period. 70.18% of the stock is owned by institutional investors.

Shares of Canadian Pacific Railway Limited (NYSE:CP) opened at 161.69 on Thursday. The company has a market capitalization of $23.72 billion, a P/E ratio of 20.58 and a beta of 1.11. The stock’s 50 day moving average price is $159.08 and its 200 day moving average price is $152.79. Canadian Pacific Railway Limited has a 52-week low of $139.29 and a 52-week high of $167.52.

Canadian Pacific Railway Limited declared that its board has initiated a stock buyback program on Wednesday, May 10th that permits the company to buyback 4,380,000 outstanding shares. This buyback authorization permits the transportation company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be paid a dividend of $0.4411 per share. This is a positive change from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.76 annualized dividend and a yield of 1.09%. Canadian Pacific Railway Limited’s dividend payout ratio is presently 21.86%.

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CP has been the subject of a number of research analyst reports. Loop Capital reaffirmed a “buy” rating on shares of Canadian Pacific Railway Limited in a report on Saturday, March 25th. Credit Suisse Group reaffirmed an “outperform” rating and set a $178.00 price objective (up from $171.00) on shares of Canadian Pacific Railway Limited in a report on Sunday, May 28th. Citigroup Inc. reiterated a “buy” rating and set a $180.00 target price (up from $165.00) on shares of Canadian Pacific Railway Limited in a research report on Sunday, May 14th. Stifel Nicolaus reiterated a “buy” rating and set a $164.00 target price (down from $165.00) on shares of Canadian Pacific Railway Limited in a research report on Saturday, April 22nd. Finally, BidaskClub upgraded Canadian Pacific Railway Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $187.24.

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.

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

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