Canadian Pacific Kansas City Limited $CP Shares Bought by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in Canadian Pacific Kansas City Limited by 5.9%, now owning approximately 596,066 shares valued at $41.85 million.
• Several institutional investors, including Vanguard Group Inc. and Invesco Ltd., also increased their positions in Canadian Pacific Kansas City, contributing to a total institutional ownership of 72.20%.
• The company announced a quarterly dividend of $0.1651, marking an increase from the previous dividend, with a yield of 0.9% and a payout ratio of 20.56%.

Price T Rowe Associates Inc. MD raised its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 5.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 596,066 shares of the transportation company's stock after acquiring an additional 33,435 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.06% of Canadian Pacific Kansas City worth $41,852,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC purchased a new position in Canadian Pacific Kansas City in the first quarter worth approximately $352,000. Van Lanschot Kempen Investment Management N.V. lifted its stake in Canadian Pacific Kansas City by 11.6% in the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 121,153 shares of the transportation company's stock worth $8,506,000 after acquiring an additional 12,626 shares during the last quarter. Maven Securities LTD purchased a new position in Canadian Pacific Kansas City in the first quarter worth approximately $916,000. Quantbot Technologies LP lifted its stake in Canadian Pacific Kansas City by 901.7% in the first quarter. Quantbot Technologies LP now owns 113,236 shares of the transportation company's stock worth $7,950,000 after acquiring an additional 101,932 shares during the last quarter. Finally, Aviso Financial Inc. lifted its stake in Canadian Pacific Kansas City by 5.6% in the first quarter. Aviso Financial Inc. now owns 1,068,821 shares of the transportation company's stock worth $75,037,000 after acquiring an additional 56,515 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE:CP traded up $0.22 on Tuesday, reaching $76.41. The company's stock had a trading volume of 2,123,964 shares, compared to its average volume of 3,005,941. 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 capitalization of $69.81 billion, a P/E ratio of 23.80, a PEG ratio of 2.13 and a beta of 1.06. The stock's 50-day moving average is $77.17 and its two-hundred day moving average is $76.51. 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 (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 8.69% and a net margin of 28.05%.The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 EPS. As a group, sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be issued a $0.1651 dividend. The ex-dividend date of this dividend is Friday, September 26th. 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%. Canadian Pacific Kansas City's dividend payout ratio is presently 20.56%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. Bank of America boosted their price objective on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. The Goldman Sachs Group restated a "neutral" rating and set a $91.00 price objective on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. Stephens boosted their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.