Hemenway Trust Co LLC Maintains Stake in Canadian Pacific Railway Limited (CP)

Hemenway Trust Co LLC continued to hold its stake in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) during the second quarter, according to its most recent filing with the SEC. The fund owned 2,776 shares of the transportation company’s stock at the end of the second quarter. Hemenway Trust Co LLC’s holdings in Canadian Pacific Railway Limited were worth $446,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Parallel Advisors LLC raised its stake 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 valued at $134,000 after buying an additional 235 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its stake 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 valued at $166,000 after buying an additional 35 shares in the last quarter. Schafer Cullen Capital Management Inc. purchased a new stake in shares of Canadian Pacific Railway Limited during the first quarter valued at about $201,000. Atria Investments LLC purchased a new stake in shares of Canadian Pacific Railway Limited during the second quarter valued at about $221,000. Finally, BB&T Corp purchased a new stake in shares of Canadian Pacific Railway Limited during the first quarter valued at about $225,000. Institutional investors and hedge funds own 70.46% of the company’s stock.

Canadian Pacific Railway Limited (NYSE CP) traded up 0.07% during mid-day trading on Friday, hitting $152.11. The stock had a trading volume of 906,733 shares. The stock’s 50 day moving average price is $158.70 and its 200 day moving average price is $153.83. The firm has a market capitalization of $22.22 billion, a price-to-earnings ratio of 17.13 and a beta of 1.09. Canadian Pacific Railway Limited has a one year low of $139.29 and a one year high of $167.52.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be paid a $0.4411 dividend. 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 annualized dividend and a dividend yield of 1.16%. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is presently 19.88%.

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Several equities research analysts recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and issued a $184.00 target price on shares of Canadian Pacific Railway Limited in a report on Wednesday. BidaskClub upgraded Canadian Pacific Railway Limited from a “sell” rating to a “hold” rating in a report on Wednesday. Wolfe Research lowered Canadian Pacific Railway Limited from an “outperform” rating to a “market perform” rating in a report on Monday, August 7th. Cowen and Company restated a “buy” rating and issued a $172.00 target price on shares of Canadian Pacific Railway Limited in a report on Friday, July 28th. Finally, Morgan Stanley reduced their target price on Canadian Pacific Railway Limited from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company has an average 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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