Canal Insurance CO reduced its stake in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 37.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,000 shares of the transportation company’s stock after selling 17,600 shares during the period. Canadian Pacific Railway Limited comprises approximately 1.8% of Canal Insurance CO’s portfolio, making the stock its 21st largest position. Canal Insurance CO’s holdings in Canadian Pacific Railway Limited were worth $4,820,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CP. Parallel Advisors LLC boosted 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 valued at $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 valued at $163,000. Edmond DE Rothschild Holding S.A. boosted 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 valued at $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 valued at $201,000. Finally, BTC Capital Management Inc. acquired a new position in Canadian Pacific Railway Limited during the second quarter valued at $209,000. 70.46% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Railway Limited (NYSE CP) opened at 152.11 on Friday. Canadian Pacific Railway Limited has a 52 week low of $139.29 and a 52 week high of $167.52. The company has a market capitalization of $22.22 billion, a price-to-earnings ratio of 17.33 and a beta of 1.09. The firm has a 50-day moving average price of $158.70 and a 200-day moving average price of $153.83.

Canadian Pacific Railway Limited declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 10th that allows the company to repurchase 4,380,000 outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be given a $0.4411 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.16%. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 28th. Canadian Pacific Railway Limited’s payout ratio is presently 19.88%.

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CP has been the topic of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $184.00 price target on shares of Canadian Pacific Railway Limited in a research report on Wednesday. Citigroup Inc. 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 research report on Sunday, May 14th. 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 research report on Tuesday, July 25th. BidaskClub raised Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Finally, Zacks Investment Research raised Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating and set a $181.00 price target on the stock in a research report on Wednesday, July 12th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Canadian Pacific Railway Limited currently has an average rating of “Buy” and a consensus 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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