Public Employees Retirement System of Ohio Decreases Stake in Canadian Pacific Kansas City Limited $CP

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Canadian Pacific Kansas City Limited by 2.1% during the second quarter, holding 317,971 shares worth approximately $25.2 million.
• Analyst ratings for Canadian Pacific Kansas City show a consensus of "Moderate Buy" with a price target averaging $92.30.
• The company announced an increase in its quarterly dividend to $0.1651, representing a 0.9% yield, with a payout ratio of 20.56%.

Public Employees Retirement System of Ohio cut its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,971 shares of the transportation company's stock after selling 6,872 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Canadian Pacific Kansas City were worth $25,184,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CP. Squarepoint Ops LLC raised its holdings in Canadian Pacific Kansas City by 165.7% during the fourth quarter. Squarepoint Ops LLC now owns 28,450 shares of the transportation company's stock worth $2,059,000 after purchasing an additional 71,750 shares during the last quarter. Vident Advisory LLC raised its holdings in 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 purchasing an additional 463 shares during the last quarter. Ameriflex Group Inc. acquired a new position in Canadian Pacific Kansas City during the fourth quarter worth $92,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in Canadian Pacific Kansas City during the fourth quarter worth $14,583,000. Finally, NorthCrest Asset Manangement LLC raised its holdings in Canadian Pacific Kansas City by 1.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 216,998 shares of the transportation company's stock worth $15,704,000 after purchasing an additional 3,589 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on CP. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. 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. Barclays boosted their price target 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. Citigroup boosted their price target on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $92.30.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock opened at $74.00 on Thursday. The firm has a market capitalization of $67.11 billion, a P/E ratio of 23.05, a PEG ratio of 2.08 and a beta of 1.06. The stock has a fifty day moving average price of $75.56 and a 200 day moving average price of $76.31. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $86.84. 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 released its earnings results on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). The business 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 business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. Equities research analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be paid a $0.1651 dividend. The ex-dividend date 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 annualized dividend and a yield of 0.9%. Canadian Pacific Kansas City's payout ratio is currently 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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