Stocks: IFP Advisors Inc Cuts Stake in Canadian Pacific Railway Limited (CP)

Stocks: IFP Advisors Inc Cuts Stake in Canadian Pacific Railway Limited (CP)

IFP Advisors Inc lowered its position in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 2.6% during the first quarter, Holdings Channel reports. The institutional investor owned 1,277 shares of the transportation company’s stock after selling 34 shares during the period. IFP Advisors Inc’s holdings in Canadian Pacific Railway Limited were worth $188,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CP. Rikoon Group LLC bought a new position in Canadian Pacific Railway Limited during the third quarter worth approximately $1,119,000. Envestnet Asset Management Inc. increased its position in Canadian Pacific Railway Limited by 4.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 23,464 shares of the transportation company’s stock worth $3,348,000 after buying an additional 1,067 shares during the period. Alpine Woods Capital Investors LLC increased its position in Canadian Pacific Railway Limited by 30.7% in the third quarter. Alpine Woods Capital Investors LLC now owns 97,800 shares of the transportation company’s stock worth $14,934,000 after buying an additional 23,000 shares during the period. Allianz Asset Management AG bought a new position in Canadian Pacific Railway Limited during the fourth quarter worth approximately $32,424,000. Finally, Russell Investments Group Ltd. bought a new position in Canadian Pacific Railway Limited during the fourth quarter worth approximately $33,510,000. 69.01% of the stock is owned by institutional investors.

Canadian Pacific Railway Limited (NYSE:CP) opened at 156.21 on Friday. The stock’s 50 day moving average price is $151.20 and its 200-day moving average price is $148.62. The firm has a market capitalization of $22.92 billion, a price-to-earnings ratio of 21.24 and a beta of 1.08. Canadian Pacific Railway Limited has a 12 month low of $119.50 and a 12 month high of $157.39.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be paid a $0.412 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Wednesday, June 28th. This is a boost from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.38. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is presently 18.67%.

A number of research firms recently commented on CP. Loop Capital downgraded Canadian Pacific Railway Limited from a “buy” rating to a “hold” rating and dropped their price target for the company from $157.34 to $119.50 in a research note on Friday, April 21st. They noted that the move was a valuation call. Royal Bank of Canada decreased their target price on Canadian Pacific Railway Limited from $239.00 to $224.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 17th. Zacks Investment Research upgraded Canadian Pacific Railway Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, March 14th. Cowen and Company lifted their target price on Canadian Pacific Railway Limited from $164.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, January 19th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $174.00 target price (down previously from $177.00) on shares of Canadian Pacific Railway Limited in a research report on Saturday, April 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eighteen have assigned a buy rating to the stock. Canadian Pacific Railway Limited has an average rating of “Buy” and an average price target of $181.88.

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.

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