Nuveen LLC Invests $51.36 Million in Canadian Pacific Kansas City Limited $CP

Key Points

• Nuveen LLC has acquired 731,966 shares of Canadian Pacific Kansas City Limited, valued at approximately $51.36 million, representing about 0.08% ownership as of the latest filing with the SEC.
• Canadian Pacific Kansas City announced a quarterly dividend increase to $0.1651 per share, up from the previous $0.16, with the ex-dividend date set for September 26th.
• The company reported earnings per share of $0.81 for the last quarter, slightly below analysts' expectations, while their revenue increased by 2.7% year-over-year to $2.72 billion.

Nuveen LLC acquired a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 731,966 shares of the transportation company's stock, valued at approximately $51,364,000. Nuveen LLC owned 0.08% of Canadian Pacific Kansas City at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cornerstone Planning Group LLC boosted its holdings in Canadian Pacific Kansas City by 209.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock valued at $28,000 after purchasing an additional 256 shares during the period. North Capital Inc. bought a new stake in Canadian Pacific Kansas City in the 1st quarter valued at $27,000. Cheviot Value Management LLC bought a new stake in Canadian Pacific Kansas City in the 1st quarter valued at $30,000. Bernard Wealth Management Corp. bought a new stake in Canadian Pacific Kansas City in the 4th quarter valued at $31,000. Finally, Hexagon Capital Partners LLC boosted its holdings in Canadian Pacific Kansas City by 49.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock valued at $35,000 after purchasing an additional 164 shares during the period. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Price Performance

CP stock traded down $0.89 during trading on Monday, hitting $73.35. 1,333,816 shares of the stock traded hands, compared to its average volume of 3,211,176. Canadian Pacific Kansas City Limited has a one year low of $66.49 and a one year high of $87.72. The stock has a market cap of $67.01 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 2.08 and a beta of 1.06. The company has a 50 day simple moving average of $78.45 and a 200 day simple moving average of $76.72. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings data 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 during 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 revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 EPS. Equities analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be given a $0.1651 dividend. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 26th. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. Canadian Pacific Kansas City's dividend payout ratio is 20.56%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CP. Evercore ISI reduced their price target on shares of Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group reissued a "neutral" rating and issued a $91.00 price target on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Finally, National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $92.30.

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.