2,635,370 Shares in Canadian Pacific Kansas City Limited $CP Purchased by Caisse de depot et placement du Quebec

Key Points

• Caisse de dépôt et placement du Québec purchased 2.64 million shares of Canadian Pacific Kansas City in the second quarter, valued at approximately $228.4 million and representing about 0.30% of the company.
• Canadian Pacific Kansas City reported quarterly revenue of $2.93 billion, up 12.6% year over year, and earnings of $0.92 per share, exceeding analysts’ estimates.
• The company declared a quarterly dividend of $0.268 per share, equal to a $1.07 annualized payout and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $108.60.

Caisse de depot et placement du Quebec purchased a new stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,635,370 shares of the transportation company's stock, valued at approximately $228,402,000. Caisse de depot et placement du Quebec owned approximately 0.30% of Canadian Pacific Kansas City as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Man Group plc bought a new stake in shares of Canadian Pacific Kansas City during the second quarter valued at approximately $214,000. Jupiter Topco LLC bought a new position in Canadian Pacific Kansas City in the second quarter worth $576,687,000. Bristol Gate Capital Partners Inc. bought a new stake in Canadian Pacific Kansas City in the 2nd quarter valued at $595,000. Hsbc Holdings PLC bought a new stake in Canadian Pacific Kansas City in the 2nd quarter valued at $335,000. Finally, EFG International AG acquired a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $93,000. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock opened at $94.74 on Thursday. The business's fifty day moving average is $90.61 and its two-hundred day moving average is $86.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. The firm has a market cap of $83.22 billion, a P/E ratio of 30.46, a P/E/G ratio of 1.84 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 52 week low of $68.42 and a 52 week high of $96.90.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the company posted $1.12 earnings per share. The firm's quarterly revenue was up 12.6% compared to the same quarter last year. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.7 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be given a $0.268 dividend. This represents a $1.07 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 25th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 25.08%.

Analyst Ratings Changes

CP has been the topic of several recent research reports. Citigroup lifted their target price on shares of Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 16th. Evercore set a $99.00 price objective on Canadian Pacific Kansas City in a report on Thursday, July 30th. Barclays set a $102.00 price objective on Canadian Pacific Kansas City and gave the company an "overweight" rating in a research note on Thursday, June 25th. Finally, Wells Fargo & Company boosted their price target on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $108.60.

Canadian Pacific Kansas City Company Profile

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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