Egerton Capital UK LLP reduced its position in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 36.3% during the second quarter, Holdings Channel reports. The firm owned 1,329,343 shares of the transportation company’s stock after selling 756,974 shares during the period. Canadian Pacific Railway Limited comprises 2.1% of Egerton Capital UK LLP’s holdings, making the stock its 19th largest position. Egerton Capital UK LLP’s holdings in Canadian Pacific Railway Limited were worth $213,772,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Causeway Capital Management LLC purchased a new position in Canadian Pacific Railway Limited during the first quarter valued at approximately $662,274,000. WCM Investment Management CA increased its stake in Canadian Pacific Railway Limited by 5.1% in the first quarter. WCM Investment Management CA now owns 3,509,846 shares of the transportation company’s stock valued at $515,667,000 after buying an additional 169,647 shares during the period. TD Asset Management Inc. increased its stake in Canadian Pacific Railway Limited by 11.6% in the first quarter. TD Asset Management Inc. now owns 3,507,764 shares of the transportation company’s stock valued at $513,822,000 after buying an additional 364,220 shares during the period. Vanguard Group Inc. increased its stake in Canadian Pacific Railway Limited by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,080,214 shares of the transportation company’s stock valued at $452,545,000 after buying an additional 146,826 shares during the period. Finally, OppenheimerFunds Inc. increased its stake in Canadian Pacific Railway Limited by 34.9% in the first quarter. OppenheimerFunds Inc. now owns 2,505,015 shares of the transportation company’s stock valued at $368,038,000 after buying an additional 647,669 shares during the period. 70.55% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Railway Limited (NYSE:CP) opened at 155.49 on Friday. Canadian Pacific Railway Limited has a 1-year low of $139.29 and a 1-year high of $167.52. The stock has a market cap of $22.71 billion, a price-to-earnings ratio of 17.58 and a beta of 1.09. The firm has a 50-day moving average price of $159.73 and a 200 day moving average price of $153.60.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be given a $0.4411 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.76 dividend on an annualized basis and a yield of 1.13%. This is a positive change from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is currently 19.88%.

Canadian Pacific Railway Limited announced that its board has initiated a share repurchase plan on Wednesday, May 10th that authorizes the company to repurchase 4,380,000 outstanding shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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Several analysts have recently weighed in on CP shares. Loop Capital decreased their target price on Canadian Pacific Railway Limited from $157.00 to $119.00 in a research report on Monday, April 24th. Morgan Stanley decreased their target price on Canadian Pacific Railway Limited from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, July 25th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Pacific Railway Limited in a research report on Thursday, July 20th. Credit Suisse Group reiterated an “outperform” rating and set a $178.00 target price (up from $171.00) on shares of Canadian Pacific Railway Limited in a research report on Sunday, May 28th. Finally, Cowen and Company reiterated a “buy” rating and set a $172.00 target price on shares of Canadian Pacific Railway Limited in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have given a buy rating to the company. Canadian Pacific Railway Limited presently has an average rating of “Buy” and an average target price of $187.37.

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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