Swiss National Bank increased its position in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 565,300 shares of the transportation company’s stock after buying an additional 2,500 shares during the period. Swiss National Bank owned approximately 0.39% of Canadian Pacific Railway Limited worth $90,969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Causeway Capital Management LLC acquired a new stake in Canadian Pacific Railway Limited during the first quarter worth about $662,274,000. WCM Investment Management CA raised its stake in Canadian Pacific Railway Limited by 6.4% in the second quarter. WCM Investment Management CA now owns 3,732,988 shares of the transportation company’s stock worth $600,302,000 after buying an additional 223,142 shares during the period. TD Asset Management Inc. raised its stake in Canadian Pacific Railway Limited by 6.0% in the second quarter. TD Asset Management Inc. now owns 3,719,943 shares of the transportation company’s stock worth $597,654,000 after buying an additional 212,179 shares during the period. Vanguard Group Inc. raised its stake in Canadian Pacific Railway Limited by 5.0% in the first quarter. Vanguard Group Inc. now owns 3,080,214 shares of the transportation company’s stock worth $452,545,000 after buying an additional 146,826 shares during the period. Finally, OppenheimerFunds Inc. raised its stake 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 worth $368,038,000 after buying an additional 647,669 shares during the period. 65.89% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Railway Limited (NYSE:CP) opened at 156.29 on Friday. The company’s 50 day moving average price is $156.22 and its 200 day moving average price is $154.16. 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 $22.83 billion, a P/E ratio of 17.79 and a beta of 1.09.

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

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

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A number of research firms have issued reports on CP. Argus reaffirmed a “buy” rating and issued a $180.00 target price (up previously from $165.00) on shares of Canadian Pacific Railway Limited in a report on Tuesday, July 25th. Zacks Investment Research raised Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating and set a $181.00 target price on the stock in a report on Wednesday, July 12th. BidaskClub lowered Canadian Pacific Railway Limited from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $184.00 target price on shares of Canadian Pacific Railway Limited in a report on Wednesday, August 16th. Finally, Wolfe Research lowered Canadian Pacific Railway Limited from an “outperform” rating to a “market perform” rating in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price 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.

Institutional Ownership by Quarter for Canadian Pacific Railway Limited (NYSE:CP)

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