Gulf International Bank UK Ltd boosted its stake in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 45,315 shares of the transportation company’s stock after buying an additional 82 shares during the period. Gulf International Bank UK Ltd’s holdings in Canadian Pacific Railway Limited were worth $7,293,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently 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. OppenheimerFunds Inc. boosted its position 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. Thornburg Investment Management Inc. boosted its position in Canadian Pacific Railway Limited by 54.3% in the first quarter. Thornburg Investment Management Inc. now owns 1,295,958 shares of the transportation company’s stock valued at $190,402,000 after buying an additional 456,122 shares during the period. Renaissance Technologies LLC boosted its position in Canadian Pacific Railway Limited by 77.5% in the first quarter. Renaissance Technologies LLC now owns 835,800 shares of the transportation company’s stock valued at $122,796,000 after buying an additional 364,800 shares during the period. Finally, TD Asset Management Inc. boosted its position 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. Institutional investors own 70.18% of the company’s stock.
Canadian Pacific Railway Limited (CP) traded down 0.14% during mid-day trading on Friday, reaching $162.16. 567,472 shares of the company traded hands. The stock has a market capitalization of $23.69 billion, a PE ratio of 18.40 and a beta of 1.11. The firm’s 50-day moving average is $159.20 and its 200 day moving average is $152.86. Canadian Pacific Railway Limited has a 52-week low of $139.29 and a 52-week high of $167.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be issued a $0.4411 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. Canadian Pacific Railway Limited’s payout ratio is currently 19.88%.
Canadian Pacific Railway Limited declared that its board has approved a share repurchase program on Wednesday, May 10th that allows the company to repurchase 4,380,000 shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
TRADEMARK VIOLATION NOTICE: This piece was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://stocknewstimes.com/2017/07/23/gulf-international-bank-uk-ltd-has-7-29-million-stake-in-canadian-pacific-railway-limited-nysecp.html.
Several research analysts have commented on CP shares. BidaskClub upgraded shares of Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Loop Capital lowered their price target on shares of Canadian Pacific Railway Limited from $157.00 to $119.00 in a report on Monday, April 24th. Cowen and Company reiterated an “outperform” rating and set a $172.00 price target (down previously from $173.00) on shares of Canadian Pacific Railway Limited in a report on Sunday, April 23rd. Credit Suisse Group reiterated an “outperform” rating and set a $178.00 price target (up previously from $171.00) on shares of Canadian Pacific Railway Limited in a report on Sunday, May 28th. Finally, Citigroup Inc. reiterated 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 Sunday, May 14th. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $187.16.
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.
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.
