Outfitter Advisors LTD. lowered its position in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 24,140 shares of the transportation company’s stock after selling 45 shares during the period. Canadian Pacific Railway Limited comprises 1.4% of Outfitter Advisors LTD.’s holdings, making the stock its 24th largest position. Outfitter Advisors LTD.’s holdings in Canadian Pacific Railway Limited were worth $3,882,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Parallel Advisors LLC increased its position in shares of 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. Shine Investment Advisory Services Inc. acquired a new position in shares of Canadian Pacific Railway Limited during the second quarter worth $163,000. Edmond DE Rothschild Holding S.A. increased its position in shares of 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. acquired a new position in shares of Canadian Pacific Railway Limited during the first quarter worth $201,000. Finally, BTC Capital Management Inc. acquired a new position in shares of Canadian Pacific Railway Limited during the second quarter worth $209,000. 70.54% of the stock is owned by institutional investors and hedge funds.

Shares of Canadian Pacific Railway Limited (NYSE CP) opened at 154.00 on Friday. Canadian Pacific Railway Limited has a 52-week low of $139.29 and a 52-week high of $167.52. The firm has a 50-day moving average of $159.58 and a 200-day moving average of $153.83. The company has a market cap of $22.50 billion, a P/E ratio of 17.34 and a beta of 1.09.

Canadian Pacific Railway Limited declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 10th that authorizes the company to buyback 4,380,000 outstanding shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.4411 per share. This is a positive change from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, September 28th. This represents a $1.76 dividend on an annualized basis and a yield of 1.15%. Canadian Pacific Railway Limited’s dividend payout ratio is presently 19.88%.

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A number of brokerages have weighed in on CP. Stifel Nicolaus raised their target price on shares of Canadian Pacific Railway Limited from $167.00 to $184.00 and gave the company a “buy” rating in a research note on Tuesday, July 11th. Citigroup Inc. reaffirmed a “buy” rating and set a $180.00 target price (up previously from $165.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, May 14th. Argus reaffirmed a “buy” rating and set a $180.00 target price (up previously from $165.00) on shares of Canadian Pacific Railway Limited in a research note on Tuesday, July 25th. BidaskClub raised shares of Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Zacks Investment Research raised shares of Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating and set a $181.00 target price for the company in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target 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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