Meag Munich Ergo Kapitalanlagegesellschaft MBH Sells 272 Shares of Canadian Pacific Railway Limited (CP)

Meag Munich Ergo Kapitalanlagegesellschaft MBH reduced its stake in shares of Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,728 shares of the transportation company’s stock after selling 272 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Canadian Pacific Railway Limited were worth $3,954,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Egerton Capital UK LLP acquired a new stake in shares of Canadian Pacific Railway Limited during the third quarter valued at about $379,300,000. Artisan Partners Limited Partnership raised its stake in shares of Canadian Pacific Railway Limited by 39.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,946,729 shares of the transportation company’s stock valued at $849,014,000 after buying an additional 1,691,463 shares during the last quarter. Norges Bank acquired a new stake in shares of Canadian Pacific Railway Limited during the fourth quarter valued at about $238,403,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Canadian Pacific Railway Limited during the third quarter valued at about $169,010,000. Finally, First Eagle Investment Management LLC acquired a new stake in shares of Canadian Pacific Railway Limited during the third quarter valued at about $131,158,000. Hedge funds and other institutional investors own 69.01% of the company’s stock.

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

Shares of Canadian Pacific Railway Limited (NYSE:CP) traded down 0.03% during mid-day trading on Thursday, hitting $158.31. 414,875 shares of the company traded hands. The firm has a 50-day moving average of $153.89 and a 200-day moving average of $149.55. Canadian Pacific Railway Limited has a one year low of $119.50 and a one year high of $160.45. The stock has a market capitalization of $23.22 billion, a price-to-earnings ratio of 21.52 and a beta of 1.08.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be issued a dividend of $0.412 per share. This represents a $1.65 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Wednesday, June 28th. This is an increase from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.38. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is 18.67%.

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CP has been the topic of several recent research reports. Loop Capital lowered their price target on shares of Canadian Pacific Railway Limited from $157.00 to $119.00 in a research note on Monday, April 24th. Wells Fargo & Co initiated coverage on shares of Canadian Pacific Railway Limited in a research note on Monday, March 13th. They issued an “outperform” rating on the stock. Cowen and Company reiterated an “outperform” rating and issued a $172.00 price target (down from $173.00) on shares of Canadian Pacific Railway Limited in a research note on Sunday, April 23rd. Zacks Investment Research lowered shares of Canadian Pacific Railway Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, March 21st. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $168.00 price target (up from $162.00) on shares of Canadian Pacific Railway Limited in a research note on Monday, March 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $182.47.

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.

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