Vestcor Inc Makes New $1.31 Million Investment in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• Vestcor Inc has acquired 18,600 shares of Canadian Pacific Kansas City Ltd, valued at approximately $1.3 million, indicating a growing institutional interest in the company.
• In the first quarter, multiple institutional investors increased their stakes in Canadian Pacific, with notable increases including Thornburg Investment Management's 13.3% and XTX Topco's 239.4% growth.
• The company recently declared a quarterly dividend of $0.1651, up from the previous $0.16, reflecting a sustainable payout ratio of 20.56%.

Vestcor Inc purchased a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,600 shares of the transportation company's stock, valued at approximately $1,306,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. North Capital Inc. bought a new stake in shares of Canadian Pacific Kansas City during the 1st quarter valued at about $27,000. Cornerstone Planning Group LLC raised its stake in Canadian Pacific Kansas City by 209.8% in the first 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 in the last quarter. Bernard Wealth Management Corp. purchased a new stake in Canadian Pacific Kansas City in the fourth quarter valued at approximately $31,000. Hexagon Capital Partners LLC lifted its position in Canadian Pacific Kansas City by 49.5% during the first 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 last quarter. Finally, Curat Global LLC purchased a new position in Canadian Pacific Kansas City in the 1st quarter worth approximately $42,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

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. Barclays lifted 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. Stifel Nicolaus reduced their price objective on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Finally, Bank of America upped their target price on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $92.30.

Canadian Pacific Kansas City Trading Down 0.9%

CP traded down $0.66 during trading on Friday, hitting $72.89. 3,538,129 shares of the stock traded hands, compared to its average volume of 3,097,308. The firm has a market capitalization of $66.91 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $87.72. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81. The firm has a 50-day moving average of $79.74 and a 200 day moving average of $76.96.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings data 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 firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate 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 was up 2.7% on a year-over-year basis. During the same period last year, the company posted $1.05 earnings per share. Equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, September 26th will be issued a $0.1651 dividend. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. This represents a $0.66 annualized dividend and a yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is 20.56%.

Canadian Pacific Kansas City Company 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.