Ninety One UK Ltd Raises Stock Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Ninety One UK Ltd significantly increased its stake in Canadian Pacific Kansas City Limited by 91.4% in Q2, now owning approximately 0.11% of the company worth $78.3 million.
• Multiple hedge funds, including Invesco Ltd and Goldman Sachs Group Inc., have also raised their positions in the company, reflecting a growing interest among institutional investors.
• Canadian Pacific Kansas City recently increased its quarterly dividend to $0.1651, with a current dividend yield of 0.9% and a payout ratio of 20.56%.

Ninety One UK Ltd boosted its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 91.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 987,813 shares of the transportation company's stock after purchasing an additional 471,593 shares during the period. Ninety One UK Ltd owned approximately 0.11% of Canadian Pacific Kansas City worth $78,316,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. increased its position in Canadian Pacific Kansas City by 59.5% during the first quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company's stock valued at $1,192,471,000 after acquiring an additional 6,337,312 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Canadian Pacific Kansas City by 70.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company's stock valued at $652,936,000 after purchasing an additional 3,842,866 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Canadian Pacific Kansas City during the 1st quarter valued at about $126,928,000. Causeway Capital Management LLC increased its position in shares of Canadian Pacific Kansas City by 11.5% during the 1st quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company's stock valued at $1,207,605,000 after purchasing an additional 1,778,984 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Canadian Pacific Kansas City by 44.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock worth $351,723,000 after purchasing an additional 1,516,684 shares during the period. 72.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CP. Stephens boosted their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Susquehanna reduced their price objective on Canadian Pacific Kansas City from $91.00 to $88.00 and set a "positive" rating for the company in a research note on Thursday, September 25th. Barclays raised their target price on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. National Bankshares reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, September 18th. Finally, Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $91.88.

Canadian Pacific Kansas City Trading Up 1.4%

Canadian Pacific Kansas City stock opened at $74.46 on Wednesday. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $85.77. The firm's 50 day moving average price is $75.20 and its 200-day moving average price is $76.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81. The stock has a market cap of $67.53 billion, a P/E ratio of 23.20, a PEG ratio of 2.06 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its 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). The company had revenue of $2.72 billion for the quarter, compared to analysts' expectations of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business's revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 earnings per share. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be given a $0.1651 dividend. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.56%.

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.

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