Virtu Financial LLC Purchases New Shares in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• Virtu Financial LLC purchased 56,406 shares of Canadian Pacific Kansas City Limited, valued at approximately $3,960,000, during the first quarter of the year.
• The company announced a quarterly dividend of $0.1651 per share, marking an increase from the previous quarter's dividend of $0.16.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Canadian Pacific Kansas City, with an average price target of $92.30.

Virtu Financial LLC bought a new stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 56,406 shares of the transportation company's stock, valued at approximately $3,960,000.

A number of other large investors also recently bought and sold shares of CP. Bank of New York Mellon Corp boosted its holdings in Canadian Pacific Kansas City by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,065,476 shares of the transportation company's stock valued at $74,807,000 after acquiring an additional 31,508 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in Canadian Pacific Kansas City by 70.0% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,990 shares of the transportation company's stock valued at $421,000 after acquiring an additional 2,467 shares during the period. CX Institutional purchased a new position in Canadian Pacific Kansas City in the 1st quarter valued at approximately $61,000. Janney Montgomery Scott LLC boosted its position in Canadian Pacific Kansas City by 28.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 101,211 shares of the transportation company's stock valued at $7,106,000 after buying an additional 22,606 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Canadian Pacific Kansas City by 1.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 28,676 shares of the transportation company's stock valued at $2,012,000 after buying an additional 290 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on CP. Scotiabank reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. Barclays boosted their target price on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Susquehanna reissued a "positive" rating and set a $94.00 target price (up from $90.00) on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 24th. Royal Bank Of Canada lowered their target price on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $91.00 target price on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.30.

Canadian Pacific Kansas City Stock Up 1.0%

NYSE:CP traded up $0.75 during midday trading on Wednesday, hitting $75.72. 2,234,816 shares of the company were exchanged, compared to its average volume of 3,238,630. The company has a fifty day simple moving average of $78.89 and a 200 day simple moving average of $76.84. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $87.72. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $69.18 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 2.10 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. Canadian Pacific Kansas City's revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be given a $0.1651 dividend. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. This represents a $0.66 annualized dividend and a yield of 0.9%. Canadian Pacific Kansas City's payout ratio is currently 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.