CenterBook Partners LP Decreases Holdings in Canadian Pacific Kansas City Limited $CP

Key Points

• CenterBook Partners LP cut its stake in Canadian Pacific Kansas City by 53.3% in the fourth quarter, selling 13,375 shares and leaving it with 11,723 shares worth about $863,000.
• Institutional ownership remains strong, with hedge funds and other institutional investors holding 72.2% of the company; several firms, including Norges Bank and Invesco, also increased positions.
• Canadian Pacific Kansas City raised its quarterly dividend to $0.268 per share from $0.23, while analysts maintain a Moderate Buy consensus and a target price of $103.22.

CenterBook Partners LP lessened its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 53.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,723 shares of the transportation company's stock after selling 13,375 shares during the quarter. CenterBook Partners LP's holdings in Canadian Pacific Kansas City were worth $863,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Canadian Pacific Kansas City during the 4th quarter valued at about $978,558,000. Invesco Ltd. boosted its stake in Canadian Pacific Kansas City by 18.3% in the third quarter. Invesco Ltd. now owns 23,128,485 shares of the transportation company's stock worth $1,722,841,000 after buying an additional 3,585,030 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Canadian Pacific Kansas City by 206.0% in the fourth quarter. BNP Paribas Financial Markets now owns 2,830,409 shares of the transportation company's stock worth $208,403,000 after buying an additional 1,905,302 shares in the last quarter. Cibc World Market Inc. boosted its stake in Canadian Pacific Kansas City by 21.9% in the fourth quarter. Cibc World Market Inc. now owns 8,433,042 shares of the transportation company's stock worth $620,925,000 after buying an additional 1,517,323 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in Canadian Pacific Kansas City by 281.2% in the third quarter. Lazard Asset Management LLC now owns 1,379,393 shares of the transportation company's stock worth $102,711,000 after buying an additional 1,017,576 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $89.63 on Thursday. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $91.50. The stock has a 50-day moving average of $85.07 and a 200 day moving average of $79.98. The company has a market capitalization of $79.51 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.02). The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The business's revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. On average, sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.76 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be paid a dividend of $0.268 per share. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. The ex-dividend date is Friday, June 26th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. Canadian Pacific Kansas City's dividend payout ratio is presently 20.68%.

Analyst Upgrades and Downgrades

CP has been the subject of a number of analyst reports. Citigroup increased their price objective on Canadian Pacific Kansas City from $93.00 to $97.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Susquehanna reissued a "positive" rating and set a $104.00 price objective on shares of Canadian Pacific Kansas City in a research report on Friday, June 5th. Weiss Ratings reissued a "hold (c+)" rating on shares of Canadian Pacific Kansas City in a research report on Friday, May 29th. National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. Finally, Scotiabank lowered Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $103.22.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC's core business is freight transportation and related logistics services.

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