Caisse DE Depot ET Placement DU Quebec Has $102.56 Million Stake in Canadian Pacific Kansas City Limited $CP

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Canadian Pacific Kansas City Limited by 25.5%, owning a total of 1,461,570 shares, valued at approximately $102.56 million.
• The company announced a quarterly dividend increase to $0.1651 per share, up from $0.16, set to be paid on October 27th.
• Canadian Pacific Kansas City reported a missed earnings estimate of $0.81 per share for the last quarter, slightly below the expected $0.82, while its revenue increase of 2.7% year-over-year totaled $2.72 billion.

Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 25.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,461,570 shares of the transportation company's stock after buying an additional 296,570 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.16% of Canadian Pacific Kansas City worth $102,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Soros Capital Management LLC boosted its position in shares of Canadian Pacific Kansas City by 129.7% during the first quarter. Soros Capital Management LLC now owns 65,341 shares of the transportation company's stock worth $4,588,000 after buying an additional 36,890 shares during the period. ICONIQ Capital LLC boosted its position in shares of Canadian Pacific Kansas City by 60.6% during the first quarter. ICONIQ Capital LLC now owns 7,696 shares of the transportation company's stock worth $540,000 after buying an additional 2,905 shares during the period. APG Asset Management N.V. boosted its position in shares of Canadian Pacific Kansas City by 13.0% during the first quarter. APG Asset Management N.V. now owns 572,475 shares of the transportation company's stock worth $37,187,000 after buying an additional 65,775 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Canadian Pacific Kansas City by 26.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 37,898 shares of the transportation company's stock worth $2,661,000 after buying an additional 7,862 shares during the period. Finally, Maren Capital LLC boosted its position in shares of Canadian Pacific Kansas City by 6.3% during the first quarter. Maren Capital LLC now owns 1,274,752 shares of the transportation company's stock worth $89,500,000 after buying an additional 75,338 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CP. Citigroup upped their price objective on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. Wall Street Zen raised Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $91.00 price target on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $92.30.

Canadian Pacific Kansas City Stock Performance

Shares of CP traded down $0.04 during mid-day trading on Friday, reaching $76.23. The company's stock had a trading volume of 1,950,293 shares, compared to its average volume of 3,255,982. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $87.72. The stock has a market cap of $69.64 billion, a P/E ratio of 23.75, a PEG ratio of 2.13 and a beta of 1.06. The business has a 50-day simple moving average of $77.30 and a two-hundred day simple moving average of $76.53. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the business earned $1.05 earnings per share. The business's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders 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 is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Canadian Pacific Kansas City's payout ratio is 20.56%.

Canadian Pacific Kansas City Company Profile

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.