Shine Investment Advisory Services Inc. acquired a new position in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,016 shares of the transportation company’s stock, valued at approximately $163,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Guggenheim Capital LLC boosted its position in Canadian Pacific Railway Limited by 96.3% in the fourth quarter. Guggenheim Capital LLC now owns 6,520 shares of the transportation company’s stock worth $930,000 after buying an additional 3,198 shares during the last quarter. WCM Investment Management CA boosted its position in Canadian Pacific Railway Limited by 5.1% in the first quarter. WCM Investment Management CA now owns 3,509,846 shares of the transportation company’s stock worth $515,667,000 after buying an additional 169,647 shares during the last quarter. Capstone Asset Management Co. boosted its position in Canadian Pacific Railway Limited by 9.6% in the first quarter. Capstone Asset Management Co. now owns 16,875 shares of the transportation company’s stock worth $2,479,000 after buying an additional 1,473 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its position in Canadian Pacific Railway Limited by 4.4% in the first quarter. Beutel Goodman & Co Ltd. now owns 1,603,202 shares of the transportation company’s stock worth $235,105,000 after buying an additional 68,085 shares during the last quarter. Finally, Skylands Capital LLC boosted its position in Canadian Pacific Railway Limited by 124.3% in the first quarter. Skylands Capital LLC now owns 24,000 shares of the transportation company’s stock worth $3,526,000 after buying an additional 13,300 shares during the last quarter. 70.54% of the stock is currently owned by hedge funds and other institutional investors.
Canadian Pacific Railway Limited (NYSE CP) opened at 153.02 on Wednesday. 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 cap of $22.35 billion, a P/E ratio of 17.30 and a beta of 1.09. The stock’s 50 day moving average price is $159.84 and its 200 day moving average price is $153.65.
Canadian Pacific Railway Limited announced that its board has approved a stock repurchase plan on Wednesday, May 10th that authorizes the company to repurchase 4,380,000 shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be issued a $0.4411 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is currently 19.88%.
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CP has been the topic of a number of analyst reports. Loop Capital cut Canadian Pacific Railway Limited from a “buy” rating to a “hold” rating and lowered their price objective for the company from $157.34 to $119.50 in a research report on Friday, April 21st. They noted that the move was a valuation call. Barclays PLC reaffirmed an “overweight” rating and set a $174.00 price objective (down from $177.00) on shares of Canadian Pacific Railway Limited in a research report on Saturday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $164.00 price objective (down from $165.00) on shares of Canadian Pacific Railway Limited in a research report on Saturday, April 22nd. Cowen and Company reaffirmed an “outperform” rating and set a $172.00 price objective (down from $173.00) on shares of Canadian Pacific Railway Limited in a research report on Sunday, April 23rd. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $180.00 price objective (up from $165.00) on shares of Canadian Pacific Railway Limited in a research report on Sunday, May 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have assigned a buy rating to the stock. Canadian Pacific Railway Limited currently has a consensus rating of “Buy” and a consensus price target 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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