Eagle Global Advisors LLC Sells 683 Shares of Canadian Pacific Railway Limited (NYSE:CP)

Eagle Global Advisors LLC lowered its position in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,460 shares of the transportation company’s stock after selling 683 shares during the period. Eagle Global Advisors LLC’s holdings in Canadian Pacific Railway Limited were worth $3,451,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CP. DORCHESTER WEALTH MANAGEMENT Co increased its position in shares of Canadian Pacific Railway Limited by 9.1% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 2,271 shares of the transportation company’s stock worth $333,000 after buying an additional 189 shares during the period. Korea Investment CORP acquired a new position in shares of Canadian Pacific Railway Limited during the first quarter worth $2,091,000. Candriam Luxembourg S.C.A. increased its position in shares of Canadian Pacific Railway Limited by 21.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 3,701 shares of the transportation company’s stock worth $542,000 after buying an additional 645 shares during the period. Reliance Trust Co. of Delaware increased its position in shares of Canadian Pacific Railway Limited by 17.5% in the first quarter. Reliance Trust Co. of Delaware now owns 4,825 shares of the transportation company’s stock worth $709,000 after buying an additional 720 shares during the period. Finally, Viking Fund Management LLC increased its position in shares of Canadian Pacific Railway Limited by 5.3% in the first quarter. Viking Fund Management LLC now owns 100,000 shares of the transportation company’s stock worth $14,692,000 after buying an additional 5,000 shares during the period. 70.54% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Railway Limited (CP) traded up 0.61% during midday trading on Friday, reaching $154.00. The company’s stock had a trading volume of 579,608 shares. The stock has a 50-day moving average price of $159.58 and a 200 day moving average price of $153.83. The company has a market cap of $22.50 billion, a PE ratio of 17.34 and a beta of 1.09. Canadian Pacific Railway Limited has a 12 month low of $139.29 and a 12 month high of $167.52.

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

The company 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 $0.4411 dividend. This is a boost from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.15%. Canadian Pacific Railway Limited’s payout ratio is presently 19.88%.

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CP has been the topic of several research reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $183.00 target price (up previously from $178.00) on shares of Canadian Pacific Railway Limited in a research report on Thursday, July 13th. They noted that the move was a valuation call. Stifel Nicolaus upped their target price on Canadian Pacific Railway Limited from $167.00 to $184.00 and gave the company a “buy” rating in a research report on Tuesday, July 11th. Bank of America Corporation upped their target price on Canadian Pacific Railway Limited from $190.00 to $193.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $180.00 target price (up previously from $175.00) on shares of Canadian Pacific Railway Limited in a research report on Saturday, July 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Canadian Pacific Railway Limited in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has an average 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.

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

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