Canadian Pacific Kansas City Limited $CP Stock Acquired by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management nearly doubled its Canadian Pacific Kansas City stake in the third quarter, increasing holdings by 93.9% to 25,048 shares valued at approximately $2.14 million.
• Institutional investors own 72.2% of CP’s outstanding shares, with several major funds—including Connor Clark & Lunn, Manulife, Legal & General and the Canada Pension Plan Investment Board—recently establishing sizable positions.
• CP reported quarterly revenue of $2.93 billion and EPS of $0.92, beating analyst estimates, while revenue grew 12.6% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $111.83, and the company declared a quarterly dividend of C$0.27 per share.

Triasima Portfolio Management inc. lifted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 93.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,048 shares of the transportation company's stock after purchasing an additional 12,133 shares during the period. Triasima Portfolio Management inc.'s holdings in Canadian Pacific Kansas City were worth $2,138,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Canadian Pacific Kansas City during the 2nd quarter valued at $802,983,000. The Manufacturers Life Insurance Company purchased a new position in Canadian Pacific Kansas City during the second quarter worth $657,672,000. Legal & General Group Plc purchased a new position in Canadian Pacific Kansas City during the second quarter worth $604,797,000. Jupiter Topco LLC purchased a new position in Canadian Pacific Kansas City during the second quarter worth $576,687,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Canadian Pacific Kansas City in the second quarter worth $542,469,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $86.99 on Friday. Canadian Pacific Kansas City Limited has a 1 year low of $68.42 and a 1 year high of $96.90. The company's 50 day simple moving average is $89.65 and its 200 day simple moving average is $87.85. The company has a market capitalization of $76.12 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 1.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released 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. The firm had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.89 billion. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. Canadian Pacific Kansas City's revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. On average, sell-side analysts predict that Canadian Pacific Kansas City Limited will post 3.70 EPS for the current year.

Canadian Pacific Kansas City Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be paid a dividend of C$0.27 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 25th. Canadian Pacific Kansas City's dividend payout ratio is currently 24.76%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Barclays set a $102.00 price objective on Canadian Pacific Kansas City and gave the company an "overweight" rating in a research report on Thursday, June 25th. Evercore set a $99.00 price objective on Canadian Pacific Kansas City in a research note on Thursday, July 30th. Weiss Ratings upgraded Canadian Pacific Kansas City from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, September 8th. Stephens raised shares of Canadian Pacific Kansas City to a "hold" rating in a research note on Wednesday, July 8th. Finally, Susquehanna cut their target price on shares of Canadian Pacific Kansas City from $106.00 to $98.00 and set a "positive" rating for the company in a research note on Friday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.83.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited NYSE: CP is a North American transportation company that operates a single-line railway linking Canada, the United States and Mexico. Headquartered in Calgary, Alberta, the company provides freight transportation and supply-chain services for customers across its extensive rail network.

CPKC transports a diverse range of products, including grain and fertilizers, coal, forest and industrial products, energy-related materials, automotive shipments, merchandise and intermodal freight.

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