HB Wealth Management LLC Invests $381,000 in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• HB Wealth Management LLC acquired 5,421 shares of Canadian Pacific Kansas City Limited, amounting to approximately $381,000.
• Institutional investors, including Causeway Capital Management LLC and Invesco Ltd., significantly increased their stakes in the company during Q4 2023, indicating strong institutional interest.
• Canadian Pacific Kansas City is set to pay a quarterly dividend of $0.1651 per share, which represents an increase from the previous dividend of $0.16, reflecting its commitment to returning value to shareholders.

HB Wealth Management LLC acquired a new position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,421 shares of the transportation company's stock, valued at approximately $381,000.

Several other hedge funds have also bought and sold shares of CP. TD Asset Management Inc lifted its position in shares of Canadian Pacific Kansas City by 0.5% during the 1st quarter. TD Asset Management Inc now owns 20,865,404 shares of the transportation company's stock valued at $1,464,094,000 after buying an additional 104,077 shares in the last quarter. Causeway Capital Management LLC lifted its position in shares of Canadian Pacific Kansas City by 76.5% during the 4th quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock valued at $1,116,632,000 after buying an additional 6,687,770 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Canadian Pacific Kansas City by 1.8% in the 4th quarter. Mackenzie Financial Corp now owns 15,348,282 shares of the transportation company's stock valued at $1,110,111,000 after purchasing an additional 276,223 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Canadian Pacific Kansas City by 11.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock valued at $899,805,000 after purchasing an additional 1,262,913 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Canadian Pacific Kansas City by 2.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,707,319 shares of the transportation company's stock valued at $848,794,000 after purchasing an additional 334,844 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CP. The Goldman Sachs Group restated a "neutral" rating and issued a $91.00 price objective on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. National Bank Financial upgraded Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Citigroup raised their price objective on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Royal Bank Of Canada decreased their price objective on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Evercore ISI decreased their price objective on Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $92.30.

Canadian Pacific Kansas City Trading Down 0.9%

Shares of NYSE:CP traded down $0.66 during midday trading on Friday, reaching $72.89. 3,538,129 shares of the company's stock were exchanged, compared to its average volume of 3,097,308. The firm's 50 day simple moving average is $79.74 and its two-hundred day simple moving average is $76.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81. The stock has a market cap of $66.91 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 2.05 and a beta of 1.06. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $87.72.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 earnings per share. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be given a $0.1651 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.66 annualized dividend and a yield of 0.9%. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. Canadian Pacific Kansas City's dividend payout ratio is presently 20.56%.

About Canadian Pacific Kansas City

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.