Connor Clark & Lunn Investment Management Ltd. Purchases 88,066 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its position in Canadian Pacific Kansas City by 88,066 shares in Q3 to 4,406,653 shares (about 0.49% of the company), a holding worth roughly $328.1 million and representing 1.0% of the firm's portfolio.
• CPKC's latest quarter missed on EPS ($0.95 vs. $0.99 estimate) while revenue was in line, and analysts hold an average rating of "Moderate Buy" with a $92 average price target.

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 2.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,406,653 shares of the transportation company's stock after acquiring an additional 88,066 shares during the quarter. Canadian Pacific Kansas City makes up 1.0% of Connor Clark & Lunn Investment Management Ltd.'s investment portfolio, making the stock its 18th largest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.49% of Canadian Pacific Kansas City worth $328,123,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CP. Vanguard Group Inc. boosted its position in Canadian Pacific Kansas City by 1.3% during the third quarter. Vanguard Group Inc. now owns 38,734,456 shares of the transportation company's stock worth $2,884,826,000 after purchasing an additional 510,633 shares during the period. Invesco Ltd. lifted its stake in shares of Canadian Pacific Kansas City by 15.1% during the 2nd quarter. Invesco Ltd. now owns 19,543,455 shares of the transportation company's stock valued at $1,549,210,000 after buying an additional 2,559,104 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Canadian Pacific Kansas City by 0.9% in the 2nd quarter. Mackenzie Financial Corp now owns 16,498,767 shares of the transportation company's stock worth $1,311,512,000 after buying an additional 150,963 shares during the period. JPMorgan Chase & Co. boosted its holdings in Canadian Pacific Kansas City by 87.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,000,064 shares of the transportation company's stock worth $1,268,325,000 after buying an additional 7,454,810 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Canadian Pacific Kansas City by 16.2% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,850,737 shares of the transportation company's stock valued at $1,018,952,000 after buying an additional 1,792,388 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

Shares of Canadian Pacific Kansas City stock opened at $83.11 on Thursday. The firm has a market capitalization of $74.63 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.80 and a beta of 1.06. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $89.42. The business's 50-day moving average price is $78.73 and its 200-day moving average price is $75.72.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, January 28th. The transportation company reported $0.95 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.04). The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.85 billion. Canadian Pacific Kansas City had a return on equity of 8.91% and a net margin of 27.49%.The business's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 EPS. Sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 27th. Stockholders of record on Friday, March 27th will be issued a $0.228 dividend. This represents a $0.91 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, March 27th. Canadian Pacific Kansas City's payout ratio is presently 20.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Evercore dropped their target price on Canadian Pacific Kansas City from $87.00 to $85.00 and set an "outperform" rating on the stock in a research report on Thursday, January 29th. Morgan Stanley raised Canadian Pacific Kansas City from an "equal weight" rating to an "overweight" rating in a report on Monday, December 8th. Barclays set a $93.00 target price on Canadian Pacific Kansas City in a report on Thursday, January 29th. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, January 21st. Finally, National Bank Financial downgraded shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 8th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Canadian Pacific Kansas City presently has an average rating of "Moderate Buy" and an average price target of $92.00.

Canadian Pacific Kansas City Company Profile

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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