Alberta Investment Management Corp Purchases 184,357 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Alberta Investment Management Corp increased its Canadian Pacific Kansas City position by 15.8%, purchasing 184,357 shares to hold 1.35 million shares worth approximately $116.9 million. Institutional investors collectively own 72.2% of the company.
• Analysts remain generally positive, with an average “Moderate Buy” rating and a $108.60 price target. Several firms recently raised their targets, including RBC, which increased its target to $145.
• CPKC exceeded quarterly expectations with $0.92 in EPS versus $0.89 expected and revenue of $2.93 billion, up 12.6% year over year. The company also declared a quarterly dividend of $0.268 per share, implying a 1.1% annual yield.

Alberta Investment Management Corp raised its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 15.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,350,112 shares of the transportation company's stock after acquiring an additional 184,357 shares during the period. Canadian Pacific Kansas City comprises approximately 0.7% of Alberta Investment Management Corp's holdings, making the stock its 19th largest holding. Alberta Investment Management Corp owned 0.15% of Canadian Pacific Kansas City worth $116,935,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Intech Investment Management LLC lifted its holdings in shares of Canadian Pacific Kansas City by 16.0% during the 1st quarter. Intech Investment Management LLC now owns 21,276 shares of the transportation company's stock worth $1,493,000 after acquiring an additional 2,940 shares during the period. Acadian Asset Management LLC bought a new stake in Canadian Pacific Kansas City in the first quarter valued at about $35,000. Sivia Capital Partners LLC bought a new stake in Canadian Pacific Kansas City in the second quarter valued at about $206,000. Prudential Financial Inc. raised its position in Canadian Pacific Kansas City by 8.7% in the second quarter. Prudential Financial Inc. now owns 5,183 shares of the transportation company's stock worth $411,000 after purchasing an additional 415 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Canadian Pacific Kansas City by 39.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,307 shares of the transportation company's stock worth $104,000 after purchasing an additional 369 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CP shares. Weiss Ratings upgraded Canadian Pacific Kansas City from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 2nd. Susquehanna raised their target price on Canadian Pacific Kansas City from $104.00 to $106.00 and gave the stock a "positive" rating in a research report on Tuesday, July 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $145.00 price target (up from $139.00) on shares of Canadian Pacific Kansas City in a research note on Thursday, July 30th. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an "outperformer" rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Canadian Pacific Kansas City has an average rating of "Moderate Buy" and an average price target of $108.60.

Canadian Pacific Kansas City Trading Up 0.0%

Shares of CP opened at $93.53 on Monday. 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 company has a market cap of $82.16 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 1.83 and a beta of 1.10. The stock has a fifty day moving average price of $89.72 and a two-hundred day moving average price of $85.50. Canadian Pacific Kansas City Limited has a 52-week low of $68.42 and a 52-week high of $94.66.

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 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.89 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. The business's revenue for the quarter was up 12.6% on a year-over-year basis. Analysts predict that Canadian Pacific Kansas City Limited will post 3.7 EPS for the current fiscal year.

Canadian Pacific Kansas City Announces Dividend

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 issued a dividend of $0.268 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.07 dividend on an annualized basis and a yield of 1.1%. Canadian Pacific Kansas City's dividend payout ratio is currently 25.08%.

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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