Elevation Point Wealth Partners LLC Boosts Stock Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Elevation Point Wealth Partners more than doubled its stake in Canadian Pacific Kansas City in the first quarter, buying an additional 19,715 shares to bring its total to 37,162 shares worth about $2.9 million.
• The railroad reported mixed quarterly results: EPS of $0.76 came in below estimates and revenue of $2.66 billion also missed expectations, though analysts still expect full-year EPS of $3.75.
• Canadian Pacific Kansas City raised its quarterly dividend to $0.268 per share, while analysts currently maintain a Moderate Buy consensus with a price target of $104.30.

Elevation Point Wealth Partners LLC lifted its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 113.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,162 shares of the transportation company's stock after acquiring an additional 19,715 shares during the period. Elevation Point Wealth Partners LLC's holdings in Canadian Pacific Kansas City were worth $2,924,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Intech Investment Management LLC grew its holdings in Canadian Pacific Kansas City by 16.0% during the 1st quarter. Intech Investment Management LLC now owns 21,276 shares of the transportation company's stock valued at $1,493,000 after buying an additional 2,940 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Canadian Pacific Kansas City in the first quarter worth about $35,000. Sivia Capital Partners LLC bought a new position in shares of Canadian Pacific Kansas City in the second quarter valued at approximately $206,000. Prudential Financial Inc. boosted its position in shares of Canadian Pacific Kansas City by 8.7% in the second quarter. Prudential Financial Inc. now owns 5,183 shares of the transportation company's stock valued at $411,000 after acquiring an additional 415 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Canadian Pacific Kansas City by 39.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,307 shares of the transportation company's stock valued at $104,000 after acquiring an additional 369 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP opened at $87.91 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46. The stock has a market cap of $77.80 billion, a PE ratio of 27.13, a PEG ratio of 1.72 and a beta of 1.10. The company's fifty day moving average is $87.29 and its 200 day moving average is $81.62. Canadian Pacific Kansas City Limited has a 52 week low of $68.42 and a 52 week high of $91.52.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The business had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.70 billion. During the same quarter in the previous year, the company earned $1.06 earnings per share. The business's quarterly revenue was down 2.5% on a year-over-year basis. Research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.75 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Friday, June 26th will be paid a $0.268 dividend. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. The ex-dividend date of this dividend 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 24.07%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays set a $102.00 target price on shares of Canadian Pacific Kansas City and gave the stock an "overweight" rating in a report on Thursday, June 25th. Susquehanna reissued a "positive" rating and issued a $104.00 price target on shares of Canadian Pacific Kansas City in a report on Friday, June 5th. Argus set a $105.00 price target on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 16th. Scotiabank cut shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 9th. Finally, Sanford C. Bernstein increased their price objective on Canadian Pacific Kansas City from $85.41 to $90.00 and gave the stock a "market perform" rating in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.30.

Canadian Pacific Kansas City 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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