Fisher Asset Management LLC Acquires 217,158 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Fisher Asset Management increased its stake in Canadian Pacific Kansas City by 3.9% in the fourth quarter, buying 217,158 additional shares and bringing its total to 5,773,272 shares worth about $425.1 million.
• Analyst sentiment remains constructive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $95.89, even though Scotiabank recently downgraded it to hold.
• Canadian Pacific Kansas City reported mixed quarterly results, missing EPS and revenue estimates, but it also raised its quarterly dividend to $0.268 per share, equal to a $1.07 annualized payout and a 1.2% yield.

Fisher Asset Management LLC increased its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,773,272 shares of the transportation company's stock after buying an additional 217,158 shares during the period. Fisher Asset Management LLC owned about 0.64% of Canadian Pacific Kansas City worth $425,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Meixler Investment Management Ltd. bought a new position in Canadian Pacific Kansas City in the third quarter worth approximately $1,644,000. AGF Management Ltd. grew its holdings in Canadian Pacific Kansas City by 9.9% in the third quarter. AGF Management Ltd. now owns 2,001,292 shares of the transportation company's stock worth $149,215,000 after purchasing an additional 180,419 shares during the last quarter. Nicola Wealth Management LTD. grew its holdings in Canadian Pacific Kansas City by 46.8% in the third quarter. Nicola Wealth Management LTD. now owns 141,500 shares of the transportation company's stock worth $10,539,000 after purchasing an additional 45,100 shares during the last quarter. Rothschild & Co Wealth Management UK Ltd grew its holdings in Canadian Pacific Kansas City by 0.9% in the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 5,353,188 shares of the transportation company's stock worth $394,156,000 after purchasing an additional 48,258 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Canadian Pacific Kansas City by 1.3% in the third quarter. Envestnet Asset Management Inc. now owns 1,127,435 shares of the transportation company's stock worth $83,985,000 after purchasing an additional 14,916 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CP shares. Scotiabank lowered shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 9th. Barclays set a $99.00 price target on shares of Canadian Pacific Kansas City and gave the stock an "overweight" rating in a report on Thursday, April 30th. Evercore cut their price target on shares of Canadian Pacific Kansas City from $87.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, January 29th. National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Finally, Citigroup lifted their price target on shares of Canadian Pacific Kansas City from $93.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $95.89.

Canadian Pacific Kansas City Price Performance

Shares of CP opened at $86.28 on Monday. The firm has a market capitalization of $76.59 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 1.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.67 and a quick ratio of 0.57. Canadian Pacific Kansas City Limited has a 1-year low of $68.42 and a 1-year high of $89.42. The company's fifty day moving average price is $82.49 and its 200-day moving average price is $78.23.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.02). The company had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.70 billion. Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. Canadian Pacific Kansas City's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm earned $1.06 earnings per share. On average, equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.76 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.268 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. 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. Canadian Pacific Kansas City's dividend payout ratio is presently 20.68%.

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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