Edgestream Partners L.P. Takes $299,000 Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Edgestream Partners L.P. purchased a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,252 shares of the transportation company's stock, valued at approximately $299,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CP. Bank of New York Mellon Corp raised its position in Canadian Pacific Kansas City by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 1,065,476 shares of the transportation company's stock worth $74,807,000 after acquiring an additional 31,508 shares during the period. Concurrent Investment Advisors LLC raised its position in Canadian Pacific Kansas City by 70.0% in the first quarter. Concurrent Investment Advisors LLC now owns 5,990 shares of the transportation company's stock worth $421,000 after acquiring an additional 2,467 shares during the period. CX Institutional bought a new stake in Canadian Pacific Kansas City in the first quarter worth about $61,000. Janney Montgomery Scott LLC raised its position in Canadian Pacific Kansas City by 28.8% in the first quarter. Janney Montgomery Scott LLC now owns 101,211 shares of the transportation company's stock worth $7,106,000 after acquiring an additional 22,606 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Canadian Pacific Kansas City by 1.0% in the first quarter. Assenagon Asset Management S.A. now owns 28,676 shares of the transportation company's stock worth $2,012,000 after acquiring an additional 290 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Canadian Pacific Kansas City stock traded down $1.21 during midday trading on Thursday, reaching $76.11. 3,924,799 shares of the stock were exchanged, compared to its average volume of 2,580,671. The company's fifty day moving average is $80.45 and its 200-day moving average is $76.93. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.81. The firm has a market cap of $69.86 billion, a PE ratio of 25.71, a PEG ratio of 2.16 and a beta of 1.07. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $87.72.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, hitting analysts' consensus estimates of $0.74. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.56 billion. Canadian Pacific Kansas City had a net margin of 25.99% and a return on equity of 8.68%. Canadian Pacific Kansas City's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.93 EPS. On average, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be issued a dividend of $0.1644 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, June 27th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. Canadian Pacific Kansas City's dividend payout ratio is 22.30%.

Analyst Ratings Changes

CP has been the topic of several research reports. Wall Street Zen lowered shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Jefferies Financial Group lowered their price objective on shares of Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Argus set a $90.00 price objective on shares of Canadian Pacific Kansas City in a research report on Wednesday, March 26th. Evercore ISI lowered their price target on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada lowered their price target on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $91.95.

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.