Novem Group Takes Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Novem Group acquired a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,026 shares of the transportation company's stock, valued at approximately $726,000.

Other hedge funds have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Canadian Pacific Kansas City by 15.8% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,324,238 shares of the transportation company's stock worth $240,423,000 after purchasing an additional 454,654 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in shares of Canadian Pacific Kansas City by 291.5% in the fourth quarter. Voloridge Investment Management LLC now owns 403,673 shares of the transportation company's stock valued at $29,214,000 after buying an additional 300,555 shares during the period. Waverly Advisors LLC increased its position in shares of Canadian Pacific Kansas City by 88.2% during the fourth quarter. Waverly Advisors LLC now owns 10,534 shares of the transportation company's stock worth $762,000 after acquiring an additional 4,938 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Canadian Pacific Kansas City by 9.9% during the fourth quarter. Woodline Partners LP now owns 182,037 shares of the transportation company's stock worth $13,174,000 after acquiring an additional 16,388 shares during the period. Finally, Vident Advisory LLC raised its holdings in shares of Canadian Pacific Kansas City by 8.4% during the fourth quarter. Vident Advisory LLC now owns 5,946 shares of the transportation company's stock worth $430,000 after acquiring an additional 463 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Evercore ISI reduced their target price on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Loop Capital cut Canadian Pacific Kansas City from a "buy" rating to a "sell" rating in a research report on Monday, February 3rd. Stephens lifted their target price on Canadian Pacific Kansas City from $88.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Stifel Nicolaus reduced their price target on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Finally, Royal Bank of Canada decreased their price target on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Canadian Pacific Kansas City presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.63.

Canadian Pacific Kansas City Stock Down 1.1%

Shares of CP stock opened at $81.06 on Thursday. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $87.72. The stock has a market cap of $75.42 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 2.00 and a beta of 1.09. The firm's 50-day moving average is $73.78 and its 200-day moving average is $75.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, hitting analysts' consensus estimates of $0.74. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the business earned $0.93 earnings per share. The business's revenue was up 8.0% compared to the same quarter last year. Sell-side analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be issued a dividend of $0.1644 per share. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.81%. Canadian Pacific Kansas City's payout ratio is presently 21.28%.

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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