HighTower Advisors LLC Boosts Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• HighTower Advisors LLC has increased its holdings in Canadian Pacific Kansas City Limited by 0.9%, now owning 581,668 shares valued at $40.8 million.
• Canadian Pacific Kansas City reported earnings of $0.81 per share for the last quarter, slightly missing the expected $0.82, while revenue rose 2.7% year-over-year to $2.72 billion.
• The company raised its quarterly dividend to $0.1651 per share with a payout ratio of 20.25%, signaling a positive change from previous dividends.

HighTower Advisors LLC increased its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 581,668 shares of the transportation company's stock after buying an additional 5,219 shares during the quarter. HighTower Advisors LLC owned 0.06% of Canadian Pacific Kansas City worth $40,838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Insight Partners LLC boosted its holdings in shares of Canadian Pacific Kansas City by 0.4% in the first quarter. Capital Insight Partners LLC now owns 40,700 shares of the transportation company's stock worth $2,858,000 after buying an additional 143 shares during the last quarter. Davidson Trust Co. boosted its holdings in shares of Canadian Pacific Kansas City by 3.2% in the first quarter. Davidson Trust Co. now owns 4,660 shares of the transportation company's stock worth $327,000 after buying an additional 144 shares during the last quarter. Advisory Services Network LLC raised its stake in Canadian Pacific Kansas City by 2.2% during the 4th quarter. Advisory Services Network LLC now owns 7,194 shares of the transportation company's stock worth $521,000 after acquiring an additional 152 shares during the period. Transatlantique Private Wealth LLC raised its stake in Canadian Pacific Kansas City by 1.6% during the 4th quarter. Transatlantique Private Wealth LLC now owns 10,066 shares of the transportation company's stock worth $728,000 after acquiring an additional 157 shares during the period. Finally, Tradewinds LLC. raised its stake in Canadian Pacific Kansas City by 3.8% during the 1st quarter. Tradewinds LLC. now owns 4,326 shares of the transportation company's stock worth $304,000 after acquiring an additional 157 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Trading Up 1.0%

Shares of CP opened at $75.72 on Thursday. The company's fifty day moving average is $78.77 and its 200 day moving average is $76.83. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $87.72. The stock has a market capitalization of $69.18 billion, a PE ratio of 23.59, a P/E/G 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 (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts expect 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. The ex-dividend date of this dividend is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 0.9%. Canadian Pacific Kansas City's payout ratio is presently 20.25%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CP. The Goldman Sachs Group restated 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. Wall Street Zen cut shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Stephens raised their target price 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. Evercore ISI decreased their target price on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup raised their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of "Moderate Buy" and an average 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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