The Valinor Management L.P. Reduces Position in Canadian Pacific Railway Ltd. (CP)

The Valinor Management L.P. Reduces Position in Canadian Pacific Railway Ltd. (CP)

Valinor Management L.P. cut its position in shares of Canadian Pacific Railway Ltd. (NYSE:CP) (TSE:CP) by 10.1% during the third quarter, Holdings Channel reports. The institutional investor owned 281,477 shares of the company’s stock after selling 31,624 shares during the period. Canadian Pacific Railway comprises approximately 1.5% of Valinor Management L.P.’s holdings, making the stock its 26th largest position. Valinor Management L.P. owned 0.19% of Canadian Pacific Railway worth $42,946,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CP. Cidel Asset Management Inc. raised its stake in Canadian Pacific Railway by 0.5% in the second quarter. Cidel Asset Management Inc. now owns 527,994 shares of the company’s stock valued at $67,508,000 after buying an additional 2,600 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in Canadian Pacific Railway by 31.9% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 266,300 shares of the company’s stock valued at $44,294,000 after buying an additional 64,391 shares during the period. CIBC Asset Management Inc increased its stake in shares of Canadian Pacific Railway by 139.6% in the second quarter. CIBC Asset Management Inc now owns 1,316,244 shares of the company’s stock valued at $168,797,000 after buying an additional 766,796 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in shares of Canadian Pacific Railway by 17.3% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 7,120 shares of the company’s stock valued at $917,000 after buying an additional 1,050 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Canadian Pacific Railway by 26.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,680 shares of the company’s stock valued at $7,900,000 after buying an additional 13,014 shares in the last quarter. 68.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Canadian Pacific Railway Ltd. (NYSE:CP) opened at 145.22 on Thursday. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 18.93 and a beta of 1.08. The firm has a 50 day moving average price of $147.62 and a 200 day moving average price of $147.34. Canadian Pacific Railway Ltd. has a 52 week low of $97.09 and a 52 week high of $157.34.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Investors of record on Friday, December 30th will be paid a $0.379 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.52 annualized dividend and a dividend yield of 1.04%. Canadian Pacific Railway’s payout ratio is currently 19.66%.

CP has been the subject of several recent analyst reports. Zacks Investment Research downgraded Canadian Pacific Railway from a “hold” rating to a “sell” rating in a research report on Monday, December 12th. Vertical Research began coverage on Canadian Pacific Railway in a research report on Tuesday, October 11th. They set a “buy” rating for the company. Loop Capital upgraded Canadian Pacific Railway from a “hold” rating to a “buy” rating in a research report on Wednesday, January 4th. They noted that the move was a valuation call. Seaport Global Securities began coverage on Canadian Pacific Railway in a research report on Monday, October 24th. They issued a “buy” rating and a $165.00 target price for the company. Finally, Raymond James Financial Inc. downgraded Canadian Pacific Railway from a “strong-buy” rating to an “outperform” rating in a research report on Monday, October 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $181.77.

In other Canadian Pacific Railway news, VP Peter John Edwards sold 15,300 shares of the stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $149.60, for a total transaction of $2,288,880.00. Following the sale, the vice president now directly owns 16,333 shares in the company, valued at approximately $2,443,416.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ubavka Rebecca Macdonald sold 3,900 shares of the stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $143.65, for a total value of $560,235.00. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Canadian Pacific Railway Company Profile

Canadian Pacific Railway Limited (CP), together with its subsidiaries, operates a transcontinental railway in Canada and the United States. The Company operates in rail transportation segment. The Company’s business mix includes bulk commodities, merchandise freight and intermodal traffic over a network of approximately 12,500 miles, serving the principal business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the United States Northeast and Midwest regions.

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