US Bancorp DE raised its stake in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,174 shares of the transportation company’s stock after buying an additional 223 shares during the period. US Bancorp DE’s holdings in Canadian Pacific Railway Limited were worth $1,314,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CP. Guggenheim Capital LLC raised its stake in Canadian Pacific Railway Limited by 96.3% in the fourth quarter. Guggenheim Capital LLC now owns 6,520 shares of the transportation company’s stock valued at $930,000 after buying an additional 3,198 shares during the period. WCM Investment Management CA raised 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. Capstone Asset Management Co. raised its stake in Canadian Pacific Railway Limited by 9.6% in the first quarter. Capstone Asset Management Co. now owns 16,875 shares of the transportation company’s stock valued at $2,479,000 after buying an additional 1,473 shares during the period. Beutel Goodman & Co Ltd. raised its stake in 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 valued at $235,105,000 after buying an additional 68,085 shares during the period. Finally, Skylands Capital LLC raised its stake in 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 valued at $3,526,000 after buying an additional 13,300 shares during the period. Hedge funds and other institutional investors own 70.54% of the company’s stock.

Shares of Canadian Pacific Railway Limited (NYSE:CP) traded down 0.23% during mid-day trading on Monday, reaching $155.13. 166,155 shares of the company were exchanged. Canadian Pacific Railway Limited has a 12 month low of $139.29 and a 12 month high of $167.52. The stock has a market capitalization of $22.66 billion, a P/E ratio of 17.54 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.

Canadian Pacific Railway Limited announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 10th that allows the company to buyback 4,380,000 shares. This buyback authorization allows the transportation company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be given a dividend of $0.4411 per share. This is a boost 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 dividend yield of 1.13%. Canadian Pacific Railway Limited’s payout ratio is currently 19.88%.

COPYRIGHT VIOLATION WARNING: This article was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international trademark and copyright law. The legal version of this article can be read at https://www.dailypolitical.com/2017/08/07/us-bancorp-de-increases-stake-in-canadian-pacific-railway-limited-cp.html.

Several research analysts have commented on the stock. Loop Capital cut shares of Canadian Pacific Railway Limited from a “buy” rating to a “hold” rating and decreased their target price for the stock from $157.34 to $119.50 in a research report on Friday, April 21st. They noted that the move was a valuation call. Barclays PLC restated an “overweight” rating and issued a $174.00 target price (down previously from $177.00) on shares of Canadian Pacific Railway Limited in a research report on Saturday, April 22nd. Stifel Nicolaus restated a “buy” rating and issued a $164.00 target price (down previously from $165.00) on shares of Canadian Pacific Railway Limited in a research report on Saturday, April 22nd. Cowen and Company restated an “outperform” rating and issued a $172.00 target price (down previously from $173.00) on shares of Canadian Pacific Railway Limited in a research report on Sunday, April 23rd. Finally, Citigroup Inc. restated a “buy” rating and issued a $180.00 target price (up previously from $165.00) on shares of Canadian Pacific Railway Limited in a research report on Sunday, May 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target 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.

Want to see what other hedge funds are holding CP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP).

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

Receive News & Ratings for Canadian Pacific Railway Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Pacific Railway Limited and related companies with MarketBeat.com's FREE daily email newsletter.