Covea Finance Takes Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Covea Finance acquired a new stake in Canadian Pacific Kansas City Limited, purchasing 53,194 shares worth approximately $4.2 million during the 2nd quarter.
• The company declared an increased quarterly dividend of $0.1651 per share, representing a 0.9% dividend yield, payable on October 27th.
• Several institutional investors have raised their positions in the company, with a reported 72.20% ownership by hedge funds and institutions.

Covea Finance purchased a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 53,194 shares of the transportation company's stock, valued at approximately $4,208,000.

Several other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC increased its holdings in Canadian Pacific Kansas City by 22.8% in the 4th quarter. Lazard Asset Management LLC now owns 1,025 shares of the transportation company's stock valued at $74,000 after purchasing an additional 190 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Canadian Pacific Kansas City by 165.7% in the 4th quarter. Squarepoint Ops LLC now owns 28,450 shares of the transportation company's stock valued at $2,059,000 after purchasing an additional 71,750 shares during the last quarter. Vident Advisory LLC increased its holdings in Canadian Pacific Kansas City by 8.4% in the 4th quarter. Vident Advisory LLC now owns 5,946 shares of the transportation company's stock valued at $430,000 after purchasing an additional 463 shares during the last quarter. Vise Technologies Inc. increased its holdings in Canadian Pacific Kansas City by 149.9% in the 4th quarter. Vise Technologies Inc. now owns 10,095 shares of the transportation company's stock valued at $731,000 after purchasing an additional 6,055 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in Canadian Pacific Kansas City in the 4th quarter valued at approximately $92,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP opened at $74.59 on Tuesday. The company has a 50-day simple moving average of $75.84 and a 200-day simple moving average of $76.35. Canadian Pacific Kansas City Limited has a one year low of $66.49 and a one year high of $86.84. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. The stock has a market capitalization of $67.64 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.12 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the previous year, the company posted $1.05 earnings per share. Canadian Pacific Kansas City's quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.56%.

Analysts Set New Price Targets

Several research firms recently weighed in on CP. National Bankshares reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday. Barclays lifted their target price on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Finally, Stephens boosted their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $92.30.

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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