Shell Asset Management Co. raised its stake in Canadian Pacific Railway Ltd (NYSE:CP) (TSE:CP) by 3.3% during the 1st quarter, Holdings Channel reports. The firm owned 12,453 shares of the transportation company’s stock after buying an additional 400 shares during the quarter. Shell Asset Management Co.’s holdings in Canadian Pacific Railway were worth $2,567,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. We Are One Seven LLC boosted its holdings in Canadian Pacific Railway by 72.8% in the first quarter. We Are One Seven LLC now owns 2,328 shares of the transportation company’s stock worth $479,000 after acquiring an additional 981 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in Canadian Pacific Railway in the first quarter worth about $360,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new stake in Canadian Pacific Railway in the fourth quarter worth about $18,909,000. Park National Corp OH boosted its holdings in Canadian Pacific Railway by 11.1% in the first quarter. Park National Corp OH now owns 1,708 shares of the transportation company’s stock worth $352,000 after acquiring an additional 170 shares in the last quarter. Finally, Creative Planning boosted its holdings in Canadian Pacific Railway by 1.2% in the fourth quarter. Creative Planning now owns 32,364 shares of the transportation company’s stock worth $5,748,000 after acquiring an additional 372 shares in the last quarter. Institutional investors own 67.83% of the company’s stock.
Canadian Pacific Railway stock opened at $223.50 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.76 and a quick ratio of 0.66. Canadian Pacific Railway Ltd has a 52 week low of $167.48 and a 52 week high of $229.85. The stock has a market cap of $31.29 billion, a P/E ratio of 19.96, a PEG ratio of 1.64 and a beta of 1.17.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be issued a dividend of $0.6174 per share. This is an increase from Canadian Pacific Railway’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 1.10%. Canadian Pacific Railway’s payout ratio is 17.41%.
CP has been the subject of several recent analyst reports. Zacks Investment Research raised Canadian Pacific Railway from a “hold” rating to a “buy” rating and set a $230.00 price target for the company in a report on Wednesday, January 30th. ValuEngine raised Canadian Pacific Railway from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. Sanford C. Bernstein downgraded Canadian Pacific Railway from an “outperform” rating to a “market perform” rating and set a $211.00 price target for the company. in a report on Tuesday, March 12th. Deutsche Bank lowered their price target on Canadian Pacific Railway from $248.00 to $230.00 and set a “buy” rating for the company in a report on Monday, March 18th. Finally, Macquarie reissued a “buy” rating on shares of Canadian Pacific Railway in a report on Thursday, March 28th. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $230.77.
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About Canadian Pacific Railway
Canadian Pacific Railway Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products.
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