PCJ Investment Counsel Ltd. Acquires 6,480 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• PCJ Investment Counsel Ltd. increased its holdings in Canadian Pacific Kansas City Limited by 17.1% in Q1, owning a total of 44,440 shares worth approximately $3.1 million.
• Canadian Pacific Kansas City recently reported $2.72 billion in revenue for Q2, slightly missing analyst estimates, along with $0.81 earnings per share, which also fell short of expectations.
• The company has announced an increase in its quarterly dividend to $0.1651 per share, reflecting a yield of 0.9% and a payout ratio of 20.56%.

PCJ Investment Counsel Ltd. raised its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 17.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,440 shares of the transportation company's stock after purchasing an additional 6,480 shares during the quarter. Canadian Pacific Kansas City accounts for about 1.2% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 26th biggest holding. PCJ Investment Counsel Ltd.'s holdings in Canadian Pacific Kansas City were worth $3,119,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Canadian Pacific Kansas City by 1.0% in the first quarter. Vanguard Group Inc. now owns 37,142,988 shares of the transportation company's stock worth $2,606,624,000 after acquiring an additional 364,515 shares during the period. TD Asset Management Inc grew its stake in shares of Canadian Pacific Kansas City by 0.5% in the first quarter. TD Asset Management Inc now owns 20,865,404 shares of the transportation company's stock worth $1,464,094,000 after acquiring an additional 104,077 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Canadian Pacific Kansas City by 6.5% in the first quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company's stock worth $1,147,220,000 after buying an additional 999,522 shares during the last quarter. Causeway Capital Management LLC boosted its holdings in shares of Canadian Pacific Kansas City by 76.5% in the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock worth $1,116,632,000 after buying an additional 6,687,770 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Canadian Pacific Kansas City by 11.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock worth $899,805,000 after buying an additional 1,262,913 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CP. Bank of America raised their price objective 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. The Goldman Sachs Group reissued a "neutral" rating and issued a $91.00 price objective on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Citigroup raised their price objective 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. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Finally, Royal Bank Of Canada dropped their price objective on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $92.30.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock traded down $0.35 on Friday, hitting $75.04. 2,329,077 shares of the company traded hands, compared to its average volume of 3,493,928. The stock has a market capitalization of $68.56 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $87.72. The business has a 50-day simple moving average of $79.18 and a 200 day simple moving average of $76.91.

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 the consensus estimate of $0.82 by ($0.01). The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The company's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. Research analysts expect 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 business 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 dividend of $0.1651 per share. The ex-dividend date is Friday, September 26th. This is an increase 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 dividend payout ratio (DPR) 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.