Douglas Lane & Associates LLC Purchases 57,616 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Douglas Lane & Associates LLC significantly increased its stake in Canadian Pacific Kansas City Limited by 89.4% during the second quarter, bringing its total holdings to $9.68 million.
• Analysts have generally given Canadian Pacific Kansas City a consensus rating of "Moderate Buy", with a revised average target price of $92.30 based on recent upgrades from several firms.
• The company recently announced a dividend increase to $0.1651 per share, representing a yield of 0.9%, indicating a commitment to returning value to shareholders.

Douglas Lane & Associates LLC raised its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 89.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,080 shares of the transportation company's stock after purchasing an additional 57,616 shares during the quarter. Douglas Lane & Associates LLC's holdings in Canadian Pacific Kansas City were worth $9,677,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings 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 valued at $2,606,624,000 after acquiring an additional 364,515 shares in the last quarter. TD Asset Management Inc boosted 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 acquiring an additional 104,077 shares in the last quarter. Causeway Capital Management LLC boosted 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 acquiring an additional 1,778,984 shares in the last quarter. Invesco Ltd. boosted its holdings in Canadian Pacific Kansas City by 59.5% during the first quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company's stock worth $1,192,471,000 after buying an additional 6,337,312 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Canadian Pacific Kansas City by 6.5% during 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 in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Performance

Shares of CP traded up $0.58 during trading hours on Friday, reaching $76.19. 527,078 shares of the company traded hands, compared to its average volume of 3,150,393. The stock's fifty day moving average is $76.09 and its 200 day moving average is $76.38. The stock has a market cap of $69.10 billion, a P/E ratio of 23.73, 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 1-year low of $66.49 and a 1-year high of $86.84.

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 analysts' consensus estimates of $0.82 by ($0.01). The business had revenue of $2.72 billion during 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 business's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 EPS. Equities research analysts anticipate 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 firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be paid a $0.1651 dividend. The ex-dividend date of this dividend 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 dividend on an annualized basis and a yield of 0.9%. Canadian Pacific Kansas City's payout ratio is presently 20.56%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup raised their price objective on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Scotiabank reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Stephens lifted their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. The Goldman Sachs Group reissued a "neutral" rating and set a $91.00 target price on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Finally, National Bankshares reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $92.30.

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.