Canadian Pacific Kansas City Limited (NYSE:CP) Shares Acquired by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP increased its stake in Canadian Pacific Kansas City by 674.8%, owning 33,603 shares valued at approximately $2.36 million.
• Several institutional investors also raised their positions, with Vanguard Group now holding 37.1 million shares, worth $2.61 billion.
• The company declared a quarterly dividend of $0.1651 per share, representing a yield of 0.9%, which is an increase from their previous dividend of $0.16.

Aigen Investment Management LP boosted its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 674.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,603 shares of the transportation company's stock after buying an additional 29,266 shares during the quarter. Aigen Investment Management LP's holdings in Canadian Pacific Kansas City were worth $2,359,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Canadian Pacific Kansas City by 1.0% during the first quarter. Vanguard Group Inc. now owns 37,142,988 shares of the transportation company's stock worth $2,606,624,000 after buying an additional 364,515 shares during the period. TD Asset Management Inc boosted its stake in shares of Canadian Pacific Kansas City by 0.5% in the first quarter. TD Asset Management Inc now owns 20,865,404 shares of the transportation company's stock valued at $1,464,094,000 after purchasing an additional 104,077 shares during the period. Invesco Ltd. boosted its stake in shares of Canadian Pacific Kansas City by 59.5% in the first quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company's stock valued at $1,192,471,000 after purchasing an additional 6,337,312 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Canadian Pacific Kansas City by 6.5% in the first quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company's stock valued at $1,147,220,000 after purchasing an additional 999,522 shares during the period. Finally, Causeway Capital Management LLC boosted its stake in shares of Canadian Pacific Kansas City by 76.5% in the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock valued at $1,116,632,000 after purchasing an additional 6,687,770 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. National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Bank of America raised their price objective on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Scotiabank reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. The Goldman Sachs Group reissued a "neutral" rating and issued a $91.00 price objective on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Finally, Barclays lifted their price target on shares of 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.30.

Canadian Pacific Kansas City Stock Up 0.5%

CP stock traded up $0.40 during midday trading on Tuesday, reaching $74.92. 2,632,369 shares of the company were exchanged, compared to its average volume of 3,507,418. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $87.72. The stock's 50-day simple moving average is $78.89 and its 200 day simple moving average is $76.84. The company has a market cap of $68.45 billion, a price-to-earnings ratio of 23.34, 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 released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates 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 period in the previous year, the business posted $1.05 EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.1651 per share. The ex-dividend date of this dividend is Friday, September 26th. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio is 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.