Strs Ohio reduced its stake in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 62.8% during the second quarter, Holdings Channel reports. The fund owned 8,700 shares of the transportation company’s stock after selling 14,700 shares during the period. Strs Ohio’s holdings in Canadian Pacific Railway Limited were worth $1,397,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CP. Parallel Advisors LLC raised its stake 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. Edmond DE Rothschild Holding S.A. raised its stake 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. purchased a new stake in Canadian Pacific Railway Limited during the first quarter worth $201,000. Atria Investments LLC purchased a new stake in Canadian Pacific Railway Limited during the second quarter worth $221,000. Finally, BB&T Corp purchased a new stake in Canadian Pacific Railway Limited during the first quarter worth $225,000. Institutional investors own 70.54% of the company’s stock.

Shares of Canadian Pacific Railway Limited (NYSE:CP) opened at 154.00 on Friday. The company has a market cap of $22.50 billion, a PE ratio of 17.34 and a beta of 1.09. Canadian Pacific Railway Limited has a 12 month low of $139.29 and a 12 month high of $167.52. The company has a 50-day moving average of $159.58 and a 200 day moving average of $153.83.

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

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 $0.4411 dividend. The ex-dividend date is Thursday, September 28th. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.15%. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is 19.88%.

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A number of analysts have recently issued reports on CP shares. BidaskClub downgraded shares of Canadian Pacific Railway Limited from a “sell” rating to a “strong sell” rating in a report on Wednesday. Wolfe Research downgraded shares of Canadian Pacific Railway Limited from an “outperform” rating to a “market perform” rating in a report on Monday, August 7th. Cowen and Company reaffirmed a “buy” rating and set a $172.00 price target on shares of Canadian Pacific Railway Limited in a report on Friday, July 28th. Morgan Stanley dropped their price target on shares of Canadian Pacific Railway Limited from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, July 25th. Finally, Argus reaffirmed a “buy” rating and set a $180.00 price target (up previously from $165.00) on shares of Canadian Pacific Railway Limited in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the stock. The stock 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.

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

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