Canadian Pacific Kansas City Limited $CP Stake Lifted by Ramirez Asset Management Inc.

Key Points

• Ramirez Asset Management Inc. increased its stake in Canadian Pacific Kansas City Limited by 47.1% in Q2, now owning 60,653 shares valued at approximately $4.8 million.
• The company declared a quarterly dividend of $0.1651 per share, a slight increase from the previous dividend, reflecting a 0.9% yield on an annualized basis.
• Canadian Pacific Kansas City reported earnings of $0.81 per share for the last quarter, missing expectations, with revenues of $2.72 billion, which was also below analyst forecasts.

Ramirez Asset Management Inc. increased its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 47.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,653 shares of the transportation company's stock after buying an additional 19,412 shares during the quarter. Ramirez Asset Management Inc.'s holdings in Canadian Pacific Kansas City were worth $4,808,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CP. Capital Insight Partners LLC boosted its position in shares of Canadian Pacific Kansas City by 0.4% in the 1st quarter. Capital Insight Partners LLC now owns 40,700 shares of the transportation company's stock valued at $2,858,000 after purchasing an additional 143 shares during the period. Davidson Trust Co. boosted its position in shares of Canadian Pacific Kansas City by 3.2% in the 1st quarter. Davidson Trust Co. now owns 4,660 shares of the transportation company's stock valued at $327,000 after purchasing an additional 144 shares during the period. Redmond Asset Management LLC boosted its position in shares of Canadian Pacific Kansas City by 0.5% in the 1st quarter. Redmond Asset Management LLC now owns 31,617 shares of the transportation company's stock valued at $2,220,000 after purchasing an additional 148 shares during the period. Tradewinds LLC. boosted its position in shares of Canadian Pacific Kansas City by 3.8% in the 1st quarter. Tradewinds LLC. now owns 4,326 shares of the transportation company's stock valued at $304,000 after purchasing an additional 157 shares during the period. Finally, Financial Partners Group Inc boosted its position in shares of Canadian Pacific Kansas City by 0.3% in the 1st quarter. Financial Partners Group Inc now owns 49,334 shares of the transportation company's stock valued at $3,464,000 after purchasing an additional 158 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Stock Down 2.5%

CP opened at $75.74 on Friday. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $83.65. The business has a 50-day moving average of $75.30 and a 200-day moving average of $76.46. 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 company has a market capitalization of $68.69 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.19 and a beta of 1.08.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings results 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 firm had revenue of $2.72 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same period last year, the business earned $1.05 earnings per share. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is 20.56%.

Wall Street Analysts Forecast Growth

CP has been the subject of several research analyst reports. Citigroup increased their price objective on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Susquehanna reduced their price objective on Canadian Pacific Kansas City from $91.00 to $88.00 and set a "positive" rating for the company in a research note on Thursday, September 25th. Stephens increased their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Canadian Pacific Kansas City in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $91.85.

Canadian Pacific Kansas City 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.

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