Ninety One North America Inc. Makes New $6.16 Million Investment in Canadian Pacific Kansas City Limited (NYSE:CP)

Ninety One North America Inc. purchased a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 87,733 shares of the transportation company's stock, valued at approximately $6,156,000.

A number of other institutional investors also recently added to or reduced their stakes in CP. Smartleaf Asset Management LLC lifted its holdings in shares of Canadian Pacific Kansas City by 18.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 839 shares of the transportation company's stock valued at $60,000 after buying an additional 133 shares during the period. Davidson Trust Co. lifted 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 valued at $327,000 after buying an additional 144 shares during the period. Advisory Services Network LLC lifted its holdings in shares of Canadian Pacific Kansas City by 2.2% in the fourth quarter. Advisory Services Network LLC now owns 7,194 shares of the transportation company's stock valued at $521,000 after buying an additional 152 shares during the period. Transatlantique Private Wealth LLC lifted its holdings in shares of Canadian Pacific Kansas City by 1.6% in the fourth quarter. Transatlantique Private Wealth LLC now owns 10,066 shares of the transportation company's stock valued at $728,000 after buying an additional 157 shares during the period. Finally, Tradewinds LLC. lifted its holdings in shares of Canadian Pacific Kansas City by 3.8% in the first quarter. Tradewinds LLC. now owns 4,326 shares of the transportation company's stock valued at $304,000 after buying an additional 157 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

CP has been the subject of several research analyst reports. Jefferies Financial Group cut their price objective on Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Stifel Nicolaus cut their price objective on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating for the company in a report on Monday, April 14th. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, May 1st. Susquehanna restated a "positive" rating and issued a $94.00 price objective (up previously from $90.00) on shares of Canadian Pacific Kansas City in a report on Tuesday, June 24th. Finally, Barclays reduced their target price on Canadian Pacific Kansas City from $91.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $90.95.

Canadian Pacific Kansas City Stock Up 1.4%

NYSE:CP traded up $1.09 during trading hours on Tuesday, hitting $80.78. 1,631,759 shares of the company's stock traded hands, compared to its average volume of 2,813,495. The firm has a market cap of $74.43 billion, a P/E ratio of 27.29, a P/E/G ratio of 2.23 and a beta of 1.07. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $87.72. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.81. The stock's fifty day moving average price is $79.29 and its two-hundred day moving average price is $76.40.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.56 billion. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 25.99%. Canadian Pacific Kansas City's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 earnings per share. On average, research 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 firm also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be given a dividend of $0.1644 per share. This represents a $0.66 annualized dividend and a yield of 0.81%. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City's payout ratio is presently 22.30%.

About Canadian Pacific Kansas City

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.