Cardinal Capital Management Inc. Increases Holdings in Canadian Pacific Kansas City Limited $CP

Key Points

• Cardinal Capital Management Inc. increased its holdings in Canadian Pacific Kansas City Limited by 0.6%, now owning approximately 1.34 million shares valued at $106.3 million, making it their 14th largest holding.
• Several major investors, including Vanguard Group and Invesco Ltd., have also raised their stakes in the company, with 72.20% of the stock owned by institutional investors and hedge funds.
• Canadian Pacific recently reported a quarterly dividend increase, now at $0.1651, and is expected to post an earnings per share of $3.42 for the current fiscal year.

Cardinal Capital Management Inc. lifted its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,338,493 shares of the transportation company's stock after buying an additional 7,385 shares during the period. Canadian Pacific Kansas City makes up about 3.3% of Cardinal Capital Management Inc.'s holdings, making the stock its 14th biggest holding. Cardinal Capital Management Inc. owned 0.15% of Canadian Pacific Kansas City worth $106,296,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in 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 last quarter. TD Asset Management Inc increased its holdings 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 valued at $1,464,094,000 after buying an additional 104,077 shares in the last quarter. Causeway Capital Management LLC increased its holdings in shares of Canadian Pacific Kansas City by 11.5% in the first quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company's stock valued at $1,207,605,000 after buying an additional 1,778,984 shares in the last quarter. Invesco Ltd. grew its position in Canadian Pacific Kansas City by 59.5% during the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company's stock worth $1,192,471,000 after purchasing an additional 6,337,312 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Canadian Pacific Kansas City by 6.5% during the 1st quarter. Mackenzie Financial Corp now owns 16,347,804 shares of the transportation company's stock worth $1,147,220,000 after purchasing an additional 999,522 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on CP. Susquehanna restated a "positive" rating and set a $94.00 price target (up from $90.00) on shares of Canadian Pacific Kansas City in a report on Tuesday, June 24th. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $91.00 price objective on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. National Bankshares reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday. Finally, Barclays upped their price objective on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.30.

Canadian Pacific Kansas City Stock Up 0.1%

CP opened at $75.69 on Friday. 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's 50-day moving average is $75.97 and its 200 day moving average is $76.39. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $86.84. The firm has a market capitalization of $68.64 billion, a P/E ratio of 23.58, a PEG ratio of 2.12 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). The business had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $2.76 billion. Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.Canadian Pacific Kansas City's revenue for the quarter 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. Shareholders of record on Friday, September 26th will be issued a $0.1651 dividend. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. This represents a $0.66 annualized dividend and a yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 20.56%.

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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