1,125,000 Shares in Canadian Pacific Kansas City Limited $CP Acquired by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp disclosed a new fourth-quarter position in Canadian Pacific Kansas City, buying 1,125,000 shares worth about $82.8 million. The stake represented roughly 0.13% of the company.
• Canadian Pacific Kansas City reported Q1 earnings of $0.76 per share, missing analyst estimates, while revenue came in at $2.66 billion versus expectations of $2.70 billion. Revenue also declined 2.5% from the same quarter a year ago.
• The company raised its quarterly dividend to $0.268 per share from $0.23, and analysts remain generally positive with a Moderate Buy consensus and average price target of $103.22.

Alberta Investment Management Corp purchased a new position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,125,000 shares of the transportation company's stock, valued at approximately $82,827,000. Alberta Investment Management Corp owned about 0.13% of Canadian Pacific Kansas City as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CP. Norges Bank purchased a new position in Canadian Pacific Kansas City in the fourth quarter worth approximately $978,558,000. Invesco Ltd. lifted its stake in Canadian Pacific Kansas City by 18.3% in the third quarter. Invesco Ltd. now owns 23,128,485 shares of the transportation company's stock worth $1,722,841,000 after acquiring an additional 3,585,030 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Canadian Pacific Kansas City by 206.0% in the fourth quarter. BNP Paribas Financial Markets now owns 2,830,409 shares of the transportation company's stock worth $208,403,000 after acquiring an additional 1,905,302 shares during the last quarter. Cibc World Market Inc. lifted its stake in Canadian Pacific Kansas City by 21.9% in the fourth quarter. Cibc World Market Inc. now owns 8,433,042 shares of the transportation company's stock worth $620,925,000 after acquiring an additional 1,517,323 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Canadian Pacific Kansas City by 281.2% during the 3rd quarter. Lazard Asset Management LLC now owns 1,379,393 shares of the transportation company's stock worth $102,711,000 after buying an additional 1,017,576 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Down 1.0%

CP stock opened at $89.22 on Tuesday. The company has a fifty day moving average price of $85.73 and a 200 day moving average price of $80.38. Canadian Pacific Kansas City Limited has a 12 month low of $68.42 and a 12 month high of $91.52. The company has a market cap of $79.15 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.67 and a quick ratio of 0.57.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The business had revenue of $2.66 billion during the quarter, compared to analysts' expectations of $2.70 billion. During the same quarter last year, the company earned $1.06 EPS. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.76 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be given a $0.268 dividend. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. The ex-dividend date is Friday, June 26th. This represents a $1.07 annualized dividend and a yield of 1.2%. Canadian Pacific Kansas City's payout ratio is currently 20.68%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays set a $99.00 price objective on shares of Canadian Pacific Kansas City and gave the stock an "overweight" rating in a research report on Thursday, April 30th. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. Susquehanna restated a "positive" rating and set a $104.00 price objective on shares of Canadian Pacific Kansas City in a research report on Friday, June 5th. Citigroup boosted their price objective on shares of Canadian Pacific Kansas City from $93.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Canadian Imperial Bank of Commerce set a $140.00 price objective on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Canadian Pacific Kansas City has a consensus rating of "Moderate Buy" and a consensus target price of $103.22.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC's core business is freight transportation and related logistics services.

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