Sciencast Management LP Grows Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Sciencast Management LP significantly increased its holdings in Canadian Pacific Kansas City Limited by 143.9%, acquiring an additional 30,018 shares, bringing their total ownership to 50,879 shares valued at approximately $3.57 million.
• Research analysts have raised their price targets for Canadian Pacific Kansas City, with Bank of America setting a new target of $90.00 and Barclays raising it to $91.00, maintaining a positive outlook for the stock.
• The company announced an increase in its quarterly dividend to $0.1651 per share, reflecting a positive change from its previous dividend and signifying a 0.9% yield for investors.

Sciencast Management LP lifted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 143.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,879 shares of the transportation company's stock after purchasing an additional 30,018 shares during the quarter. Canadian Pacific Kansas City accounts for approximately 0.8% of Sciencast Management LP's investment portfolio, making the stock its 20th biggest holding. Sciencast Management LP's holdings in Canadian Pacific Kansas City were worth $3,572,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Guardian Partners Inc. increased its holdings in shares of Canadian Pacific Kansas City by 1.0% in the first quarter. Guardian Partners Inc. now owns 19,156 shares of the transportation company's stock valued at $1,348,000 after purchasing an additional 190 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Canadian Pacific Kansas City by 70.4% during the first quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company's stock worth $652,936,000 after purchasing an additional 3,842,866 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Canadian Pacific Kansas City during the first quarter worth about $2,586,000. Scientech Research LLC bought a new stake in Canadian Pacific Kansas City during the first quarter worth about $1,117,000. Finally, Select Equity Group L.P. lifted its holdings in shares of Canadian Pacific Kansas City by 24.4% in the first quarter. Select Equity Group L.P. now owns 3,831,097 shares of the transportation company's stock worth $268,822,000 after acquiring an additional 751,019 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP traded down $0.57 during mid-day trading on Friday, reaching $75.14. 1,571,004 shares of the company's stock were exchanged, compared to its average volume of 2,658,295. The firm has a market capitalization of $68.14 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 2.12 and a beta of 1.06. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $87.72. 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 firm has a 50-day moving average price of $76.51 and a two-hundred day moving average price of $76.40.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced 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 firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. Analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current 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 issued a dividend of $0.1651 per share. 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 annualized dividend and a dividend yield of 0.9%. Canadian Pacific Kansas City's payout ratio is presently 20.25%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CP shares. Citigroup increased their target price on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Bank of America raised their price target on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Stephens raised their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $91.00 price objective on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. One research 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 issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $92.30.

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.