Legal & General Group Plc Purchases New Shares in Canadian Pacific Kansas City Limited $CP

Key Points

• Legal & General Group Plc purchased 6.98 million shares of Canadian Pacific Kansas City in the second quarter, worth approximately $604.8 million and representing about 0.79% of the company. Institutional investors collectively own 72.2% of CP.
• Canadian Pacific Kansas City reported quarterly EPS of $0.92, exceeding estimates of $0.89, while revenue rose 12.6% year over year to $2.93 billion. The company declared a quarterly dividend of $0.268 per share, equivalent to a 1.1% yield.
• Analyst sentiment is favorable, with a “Moderate Buy” consensus rating and an average price target of $108.60, compared with the stock’s reported price of $94.69.

Legal & General Group Plc purchased a new position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,978,871 shares of the transportation company's stock, valued at approximately $604,797,000. Legal & General Group Plc owned about 0.79% of Canadian Pacific Kansas City as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Saranac Partners Ltd bought a new position in Canadian Pacific Kansas City during the 2nd quarter valued at about $6,773,000. HighTower Advisors LLC lifted its stake in Canadian Pacific Kansas City by 6.2% in the fourth quarter. HighTower Advisors LLC now owns 630,624 shares of the transportation company's stock worth $46,434,000 after purchasing an additional 37,044 shares during the last quarter. Jennison Associates LLC bought a new stake in Canadian Pacific Kansas City in the fourth quarter worth about $1,983,000. WGI DM LLC boosted its position in shares of Canadian Pacific Kansas City by 3.9% during the fourth quarter. WGI DM LLC now owns 437,824 shares of the transportation company's stock valued at $32,237,000 after buying an additional 16,282 shares during the period. Finally, Rathbones Group PLC boosted its position in shares of Canadian Pacific Kansas City by 5.9% during the fourth quarter. Rathbones Group PLC now owns 1,729,339 shares of the transportation company's stock valued at $127,342,000 after buying an additional 95,727 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock opened at $94.69 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. The company has a market capitalization of $83.17 billion, a PE ratio of 30.45, a P/E/G ratio of 1.89 and a beta of 1.10. The company has a 50 day moving average price of $90.32 and a 200-day moving average price of $86.36. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.42 and a fifty-two week high of $96.90.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The company had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.89 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Canadian Pacific Kansas City's revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.7 earnings per share for the current year.

Canadian Pacific Kansas City Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be issued a dividend of $0.268 per share. This represents a $1.07 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 25th. Canadian Pacific Kansas City's dividend payout ratio is presently 25.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CP. Evercore set a $99.00 price target on Canadian Pacific Kansas City in a report on Thursday, July 30th. Barclays set a $102.00 price objective on Canadian Pacific Kansas City and gave the company an "overweight" rating in a report on Thursday, June 25th. Susquehanna increased their target price on Canadian Pacific Kansas City from $104.00 to $106.00 and gave the stock a "positive" rating in a research note on Tuesday, July 14th. Citigroup lifted their target price on Canadian Pacific Kansas City from $106.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $145.00 target price (up from $139.00) on shares of Canadian Pacific Kansas City in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $108.60.

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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