Canadian Pacific Railway Limited (CP) Stake Held by Viking Fund Management LLC

Viking Fund Management LLC continued to hold its position in Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP) during the second quarter, Holdings Channel reports. The fund owned 100,000 shares of the transportation company’s stock at the end of the second quarter. Canadian Pacific Railway Limited comprises approximately 2.5% of Viking Fund Management LLC’s portfolio, making the stock its 10th largest position. Viking Fund Management LLC’s holdings in Canadian Pacific Railway Limited were worth $16,081,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aperio Group LLC boosted its position in Canadian Pacific Railway Limited by 9.0% in the second quarter. Aperio Group LLC now owns 46,169 shares of the transportation company’s stock worth $7,424,000 after buying an additional 3,828 shares in the last quarter. Jarislowsky Fraser Ltd boosted its position in Canadian Pacific Railway Limited by 12.4% in the second quarter. Jarislowsky Fraser Ltd now owns 7,115 shares of the transportation company’s stock worth $1,143,000 after buying an additional 787 shares in the last quarter. Mn Services Vermogensbeheer B.V. acquired a new position in Canadian Pacific Railway Limited during the second quarter worth about $3,818,000. Creative Planning boosted its position in Canadian Pacific Railway Limited by 0.5% in the second quarter. Creative Planning now owns 32,915 shares of the transportation company’s stock worth $5,293,000 after buying an additional 157 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its position in Canadian Pacific Railway Limited by 0.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 13,077 shares of the transportation company’s stock worth $2,104,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 70.18% of the company’s stock.

Shares of Canadian Pacific Railway Limited (CP) traded up 0.015% during trading on Friday, reaching $162.415. The company’s stock had a trading volume of 269,650 shares. The stock’s 50 day moving average price is $159.20 and its 200-day moving average price is $152.86. The stock has a market cap of $23.83 billion, a price-to-earnings ratio of 20.671 and a beta of 1.11. Canadian Pacific Railway Limited has a 52-week low of $139.29 and a 52-week high of $167.52.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be given a dividend of $0.4411 per share. This represents a $1.76 annualized dividend and a yield of 1.09%. This is a positive change from Canadian Pacific Railway Limited’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 28th. Canadian Pacific Railway Limited’s dividend payout ratio (DPR) is presently 19.88%.

Canadian Pacific Railway Limited announced that its Board of Directors has authorized a share buyback program on Wednesday, May 10th that allows the company to repurchase 4,380,000 outstanding shares. This repurchase authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this piece of content on another website, it was copied illegally and republished in violation of United States and international copyright & trademark law. The original version of this piece of content can be read at https://transcriptdaily.com/2017/07/21/canadian-pacific-railway-limited-cp-stake-held-by-viking-fund-management-llc.html.

A number of research analysts have issued reports on the company. Bank of America Corporation lifted 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. Royal Bank Of Canada restated an “outperform” rating on shares of Canadian Pacific Railway Limited in a report on Thursday. Credit Suisse Group restated an “outperform” rating and set a $183.00 price target (up from $178.00) on shares of Canadian Pacific Railway Limited in a report on Thursday, July 13th. They noted that the move was a valuation call. Zacks Investment Research upgraded Canadian Pacific Railway Limited from a “hold” rating to a “buy” rating and set a $181.00 price target on the stock in a report on Wednesday, July 12th. Finally, Stifel Nicolaus boosted their price target on Canadian Pacific Railway Limited from $167.00 to $184.00 and gave the stock a “buy” rating in a report on Tuesday, July 11th. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $187.56.

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.

Want to see what other hedge funds are holding CP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Pacific Railway Limited (NYSE:CP) (TSE:CP).

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

Receive News & Ratings for Canadian Pacific Railway Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Pacific Railway Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply