Canadian Pacific Kansas City Limited $CP Shares Acquired by Nicola Wealth Management LTD.

Key Points

• Nicola Wealth Management increased its stake in Canadian Pacific Kansas City by 27.1%, owning 154,800 shares valued at $10.87 million after purchasing an additional 33,000 shares during the first quarter.
• The company recently reported $0.81 earnings per share, falling short of the consensus estimate of $0.82, while its revenue for the quarter was $2.72 billion, compared to an expectation of $2.76 billion.
• Canadian Pacific Kansas City announced an increase in its quarterly dividend to $0.1651 per share, representing a dividend yield of 0.9% and a payout ratio of 20.56%.

Nicola Wealth Management LTD. boosted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 27.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,800 shares of the transportation company's stock after acquiring an additional 33,000 shares during the period. Nicola Wealth Management LTD.'s holdings in Canadian Pacific Kansas City were worth $10,868,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC grew its holdings in shares of Canadian Pacific Kansas City by 209.8% during the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock worth $28,000 after buying an additional 256 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter worth about $27,000. Cheviot Value Management LLC purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter worth about $30,000. Bernard Wealth Management Corp. purchased a new stake in shares of Canadian Pacific Kansas City during the fourth quarter worth about $31,000. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Canadian Pacific Kansas City by 49.5% during the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock worth $35,000 after buying an additional 164 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Trading Up 1.1%

CP stock traded up $0.80 during midday trading on Monday, reaching $75.88. 2,390,359 shares of the company's stock traded hands, compared to its average volume of 3,172,436. The company has a market capitalization of $68.81 billion, a P/E ratio of 23.64, a PEG ratio of 2.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $87.72. The business has a 50-day moving average price of $76.51 and a two-hundred day moving average price of $76.40.

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 analysts' consensus estimates of $0.82 by ($0.01). The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The company's quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be given a dividend of $0.1651 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio is presently 20.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a report on Saturday. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Susquehanna restated a "positive" rating and issued a $94.00 target price (up from $90.00) on shares of Canadian Pacific Kansas City in a report on Tuesday, June 24th. Finally, Barclays boosted their target price on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average 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.