New York State Common Retirement Fund Reduces Position in Canadian Pacific Railway Limited (CP)

New York State Common Retirement Fund reduced its holdings in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,200 shares of the transportation company’s stock after selling 1 shares during the quarter. New York State Common Retirement Fund’s holdings in Canadian Pacific Railway Limited were worth $7,751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new position in shares of Canadian Pacific Railway Limited in the second quarter worth approximately $130,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Canadian Pacific Railway Limited by 23.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 876 shares of the transportation company’s stock worth $141,000 after acquiring an additional 167 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Canadian Pacific Railway Limited by 13.0% in the second quarter. Parallel Advisors LLC now owns 983 shares of the transportation company’s stock worth $154,000 after acquiring an additional 113 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of Canadian Pacific Railway Limited in the second quarter worth approximately $163,000. Finally, 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 acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 65.89% of the company’s stock.

Several research analysts have recently weighed in on CP shares. National Bank Financial downgraded shares of Canadian Pacific Railway Limited from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $219.00 to $207.00 in a research report on Wednesday, September 13th. Morgan Stanley lowered their price objective on shares of Canadian Pacific Railway Limited from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 25th. BidaskClub downgraded shares of Canadian Pacific Railway Limited from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Bank of America Corporation boosted their price objective on shares of 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. Finally, Wolfe Research downgraded shares of Canadian Pacific Railway Limited from an “outperform” rating to a “market perform” rating in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $188.35.

Shares of Canadian Pacific Railway Limited (NYSE:CP) opened at 165.02 on Wednesday. Canadian Pacific Railway Limited has a 52 week low of $139.29 and a 52 week high of $169.58. The stock has a 50 day moving average of $161.06 and a 200-day moving average of $157.15. The firm has a market capitalization of $24.11 billion, a PE ratio of 18.00 and a beta of 1.11.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be paid a $0.4411 dividend. The ex-dividend date is Thursday, September 28th. This is a boost from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 1.07%. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is currently 21.43%.

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Canadian Pacific Railway Limited 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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