Select Equity Group L.P. Increases Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Select Equity Group L.P. has increased its holdings in Canadian Pacific Kansas City Limited by 24.4%, now owning 3,831,097 shares worth approximately $268.82 million.
• The company reported earnings per share of $0.81 for the most recent quarter, slightly missing the consensus estimate of $0.82, while revenue was $2.72 billion.
• Canadian Pacific Kansas City has announced a new quarterly dividend of $0.1651, marking an increase from the previous dividend of $0.16, with a yield of 0.9%.

Select Equity Group L.P. raised its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 24.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,831,097 shares of the transportation company's stock after buying an additional 751,019 shares during the quarter. Select Equity Group L.P. owned about 0.41% of Canadian Pacific Kansas City worth $268,822,000 at the end of the most recent reporting period.

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

Canadian Pacific Kansas City Stock Performance

Shares of CP traded down $0.50 during mid-day trading on Friday, reaching $75.21. The company had a trading volume of 594,567 shares, compared to its average volume of 3,171,048. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $87.72. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $68.21 billion, a P/E ratio of 23.43, a PEG ratio of 2.08 and a beta of 1.06. The stock has a 50 day moving average of $76.63 and a two-hundred day moving average of $76.43.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its earnings results on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.The company had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share 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 paid a $0.1651 dividend. The ex-dividend date is Friday, September 26th. This is a positive change 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 (DPR) is currently 20.56%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. 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 research note on Thursday, July 10th. Wall Street Zen upgraded Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. Stephens boosted their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. The Goldman Sachs Group restated a "neutral" rating and set a $91.00 price target on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Finally, Scotiabank restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of "Moderate Buy" and a consensus 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.