Investment Management Corp of Ontario Trims Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Investment Management Corp of Ontario lowered its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,449 shares of the transportation company's stock after selling 5,000 shares during the quarter. Investment Management Corp of Ontario's holdings in Canadian Pacific Kansas City were worth $2,638,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Canadian Pacific Kansas City by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 36,778,473 shares of the transportation company's stock valued at $2,662,978,000 after buying an additional 491,966 shares during the last quarter. Causeway Capital Management LLC boosted its stake in Canadian Pacific Kansas City by 76.5% during the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock valued at $1,116,632,000 after buying an additional 6,687,770 shares during the last quarter. Norges Bank bought a new position in Canadian Pacific Kansas City during the fourth quarter valued at approximately $914,090,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Canadian Pacific Kansas City by 11.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock valued at $899,805,000 after buying an additional 1,262,913 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Canadian Pacific Kansas City by 2.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,707,319 shares of the transportation company's stock valued at $848,794,000 after buying an additional 334,844 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Trading Up 0.1%

Shares of CP stock traded up $0.10 on Friday, reaching $81.59. 2,900,416 shares of the company's stock were exchanged, compared to its average volume of 2,802,466. 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 current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $75.92 billion, a PE ratio of 28.14, a P/E/G ratio of 2.00 and a beta of 1.09. The company's fifty day simple moving average is $73.33 and its 200 day simple moving average is $75.13.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.74. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the company earned $0.93 EPS. Canadian Pacific Kansas City's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be paid a dividend of $0.1644 per share. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City's dividend payout ratio (DPR) is currently 21.28%.

Analyst Ratings Changes

A number of equities analysts recently commented on CP shares. Jefferies Financial Group dropped their price target on Canadian Pacific Kansas City from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Barclays lowered their price objective on Canadian Pacific Kansas City from $91.00 to $87.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Citigroup lowered their price objective on Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Evercore ISI lowered their price objective on Canadian Pacific Kansas City from $89.00 to $88.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, Bank of America raised their price objective on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a "buy" rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.63.

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.