DekaBank Deutsche Girozentrale raised its position in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 6.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,523 shares of the transportation company’s stock after buying an additional 9,820 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Canadian Pacific Railway Limited were worth $24,642,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Parallel Advisors LLC raised its position in Canadian Pacific Railway Limited by 37.0% in the first quarter. Parallel Advisors LLC now owns 870 shares of the transportation company’s stock worth $134,000 after buying an additional 235 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Canadian Pacific Railway Limited during the second quarter worth approximately $163,000. Edmond DE Rothschild Holding S.A. raised its position in Canadian Pacific Railway Limited by 3.2% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,135 shares of the transportation company’s stock worth $166,000 after buying an additional 35 shares in the last quarter. Schafer Cullen Capital Management Inc. acquired a new position in Canadian Pacific Railway Limited during the first quarter worth approximately $201,000. Finally, Atria Investments LLC acquired a new position in Canadian Pacific Railway Limited during the second quarter worth approximately $221,000. Institutional investors own 70.54% of the company’s stock.

Canadian Pacific Railway Limited (NYSE CP) opened at 153.07 on Friday. The firm’s 50-day moving average is $159.67 and its 200 day moving average is $153.81. Canadian Pacific Railway Limited has a 12 month low of $139.29 and a 12 month high of $167.52. The firm has a market capitalization of $22.36 billion, a price-to-earnings ratio of 17.24 and a beta of 1.09.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be paid 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 is Thursday, September 28th. This represents a $1.76 annualized dividend and a yield of 1.15%. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is presently 19.88%.

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

TRADEMARK VIOLATION WARNING: “DekaBank Deutsche Girozentrale Acquires 9,820 Shares of Canadian Pacific Railway Limited (CP)” was published by Daily Political and is the property of of Daily Political. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://www.dailypolitical.com/2017/08/11/dekabank-deutsche-girozentrale-acquires-9820-shares-of-canadian-pacific-railway-limited-cp.html.

CP has been the topic of a number of recent research reports. Loop Capital dropped their price objective on shares of Canadian Pacific Railway Limited from $157.00 to $119.00 in a research note on Monday, April 24th. Citigroup Inc. restated a “buy” rating and issued a $180.00 price objective (up from $165.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, May 14th. Stifel Nicolaus restated a “buy” rating and issued a $164.00 price objective (down from $165.00) on shares of Canadian Pacific Railway Limited in a research note on Saturday, April 22nd. Zacks Investment Research upgraded shares of Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating and set a $181.00 price objective on the stock in a research note on Wednesday, July 12th. Finally, BidaskClub upgraded shares of Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $187.37.

About Canadian Pacific Railway Limited

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.