Canadian Pacific Kansas City Limited $CP Shares Purchased by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. raised its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 81.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 80,540 shares of the transportation company’s stock after purchasing an additional 36,100 shares during the quarter. Canadian Pacific Kansas City comprises about 2.2% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 13th biggest position. PCJ Investment Counsel Ltd.’s holdings in Canadian Pacific Kansas City were worth $6,386,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Invesco Ltd. raised its stake in shares of Canadian Pacific Kansas City by 59.5% in the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company’s stock valued at $1,192,471,000 after acquiring an additional 6,337,312 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Canadian Pacific Kansas City by 70.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company’s stock worth $652,936,000 after purchasing an additional 3,842,866 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Canadian Pacific Kansas City in the 1st quarter valued at approximately $126,928,000. Causeway Capital Management LLC raised its position in Canadian Pacific Kansas City by 11.5% in the first quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company’s stock valued at $1,207,605,000 after purchasing an additional 1,778,984 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Canadian Pacific Kansas City by 47.7% in the first quarter. Canada Pension Plan Investment Board now owns 4,541,610 shares of the transportation company’s stock valued at $318,775,000 after purchasing an additional 1,465,689 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CP shares. Jefferies Financial Group set a $90.00 price target on Canadian Pacific Kansas City in a research report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. National Bankshares reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, September 18th. Stephens increased their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Citigroup lowered their price objective on shares of Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.69.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP opened at $70.90 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.63 and a quick ratio of 0.54. The company has a market cap of $63.84 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08. The stock’s 50-day moving average is $74.93 and its two-hundred day moving average is $76.82. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $83.65.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the business posted $0.99 EPS. Analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be given a $0.228 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.91 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. Canadian Pacific Kansas City’s payout ratio is currently 20.12%.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers.