Great West Life Assurance Co. Can Acquires 27,498 Shares of Canadian Pacific Railway Limited (NYSE:CP)

Great West Life Assurance Co. Can raised its position in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,072,908 shares of the transportation company’s stock after buying an additional 27,498 shares during the period. Great West Life Assurance Co. Can owned about 0.73% of Canadian Pacific Railway Limited worth $172,155,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. 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 valued at $134,000 after buying an additional 235 shares in the last quarter. 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 valued at $166,000 after buying an additional 35 shares in the last quarter. Schafer Cullen Capital Management Inc. purchased a new position in Canadian Pacific Railway Limited during the first quarter valued at about $201,000. Atria Investments LLC purchased a new position in Canadian Pacific Railway Limited during the second quarter valued at about $221,000. Finally, Fox Run Management L.L.C. purchased a new position in Canadian Pacific Railway Limited during the second quarter valued at about $241,000. 70.55% of the stock is owned by institutional investors.

Canadian Pacific Railway Limited (CP) opened at 156.31 on Wednesday. The firm has a market capitalization of $22.83 billion, a P/E ratio of 17.67 and a beta of 1.09. The company’s 50-day moving average is $159.73 and its 200-day moving average is $153.60. Canadian Pacific Railway Limited has a 52-week low of $139.29 and a 52-week high of $167.52.

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

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 given a dividend of $0.4411 per share. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, September 28th. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is presently 19.88%.

Several research firms have issued reports on CP. Credit Suisse Group reaffirmed an “outperform” rating and issued a $183.00 price target (up from $178.00) on shares of Canadian Pacific Railway Limited in a report on Thursday, July 13th. They noted that the move was a valuation call. Stifel Nicolaus lifted their price target on shares of Canadian Pacific Railway Limited from $167.00 to $184.00 and gave the stock a “buy” rating in a report on Tuesday, July 11th. Bank of America Corporation lifted their price target on shares of Canadian Pacific Railway Limited from $190.00 to $193.00 and gave the stock a “buy” rating in a report on Thursday, July 20th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $180.00 price target (up from $175.00) on shares of Canadian Pacific Railway Limited in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Canadian Pacific Railway Limited in a report on Thursday, July 20th. One equities research 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’s stock. The company 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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