Canadian Pacific Kansas City Limited $CP Stock: Allspring Global Investments Holdings LLC Grows Position

Key Points

• Allspring Global Investments increased its Canadian Pacific Kansas City stake by 1.5% in the third quarter, adding 78,977 shares to bring its holdings to 5.23 million shares, worth about $441 million.
• Analysts have a “Moderate Buy” consensus and an average price target of $112.58; ratings include 12 Buys, four Holds, and one Strong Buy.
• Latest quarterly revenue rose 15.2% year over year to $2.96 billion, matching estimates, while EPS of $0.91 fell short of the $0.94 consensus. The company announced a quarterly dividend of C$0.27 per share.

Allspring Global Investments Holdings LLC raised its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,225,140 shares of the transportation company's stock after purchasing an additional 78,977 shares during the period. Canadian Pacific Kansas City accounts for about 0.7% of Allspring Global Investments Holdings LLC's holdings, making the stock its 21st biggest position. Allspring Global Investments Holdings LLC owned 0.60% of Canadian Pacific Kansas City worth $441,368,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Canadian Pacific Kansas City by 5.1% in the third quarter. Brighton Jones LLC now owns 3,294 shares of the transportation company's stock valued at $280,000 after buying an additional 159 shares during the last quarter. Ethic Inc. grew its position in Canadian Pacific Kansas City by 21.1% in the 3rd quarter. Ethic Inc. now owns 18,185 shares of the transportation company's stock valued at $1,548,000 after buying an additional 3,172 shares during the last quarter. Alps Advisors Inc. purchased a new position in Canadian Pacific Kansas City in the 3rd quarter valued at $745,000. CenterBook Partners LP acquired a new position in Canadian Pacific Kansas City in the 3rd quarter valued at $366,000. Finally, Asset One Wealth Management LLC increased its stake in Canadian Pacific Kansas City by 26.6% in the 3rd quarter. Asset One Wealth Management LLC now owns 27,955 shares of the transportation company's stock valued at $2,379,000 after buying an additional 5,868 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on CP. Citizens Jmp began coverage on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They issued a "market perform" rating for the company. Zacks Research cut Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 26th. Citigroup reissued a "cautious" rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, October 7th. Susquehanna raised their price target on Canadian Pacific Kansas City from $98.00 to $105.00 and gave the company a "positive" rating in a report on Tuesday, November 3rd. Finally, Evercore reissued an "outperform" rating and issued a $96.00 price target on shares of Canadian Pacific Kansas City in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $112.58.

Canadian Pacific Kansas City Stock Performance

Shares of CP stock opened at $92.06 on Monday. The stock has a fifty day moving average price of $88.52 and a 200 day moving average price of $86.43. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.44 and a current ratio of 0.52. The stock has a market cap of $80.13 billion, a PE ratio of 29.51, a P/E/G ratio of 1.94 and a beta of 1.06. Canadian Pacific Kansas City Limited has a 1 year low of $68.50 and a 1 year high of $96.90.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its earnings results on Wednesday, October 28th. The transportation company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.03). Canadian Pacific Kansas City had a net margin of 24.14% and a return on equity of 9.27%. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the company posted $1.10 EPS. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. Sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.67 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 25th. Shareholders of record on Thursday, December 31st will be given a dividend of C$0.27 per share. The ex-dividend date is Thursday, December 31st. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. Canadian Pacific Kansas City's payout ratio is presently 24.36%.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City Limited NYSE: CP, known as CPKC, operates a transcontinental freight railway. Its network connects Canada, the United States and Mexico, providing rail transportation and related logistics services for businesses across North America.

CPKC carries a range of goods, including grain and other agricultural products, intermodal freight, automotive shipments, energy products, chemicals, forest products and industrial materials. Its services include rail freight transportation, intermodal shipping and logistics solutions.

The company was formed in April 2023 through the combination of Canadian Pacific Railway and Kansas City Southern.

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