The Manufacturers Life Insurance Company Raises Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

The Manufacturers Life Insurance Company increased its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,707,319 shares of the transportation company's stock after acquiring an additional 334,844 shares during the quarter. Canadian Pacific Kansas City comprises approximately 0.7% of The Manufacturers Life Insurance Company's portfolio, making the stock its 21st biggest position. The Manufacturers Life Insurance Company owned 1.25% of Canadian Pacific Kansas City worth $848,794,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Leslie Global Wealth LLC bought a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth approximately $252,000. Kovitz Investment Group Partners LLC raised its holdings in Canadian Pacific Kansas City by 34.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,066 shares of the transportation company's stock worth $1,018,000 after purchasing an additional 3,634 shares in the last quarter. Hancock Whitney Corp lifted its position in Canadian Pacific Kansas City by 0.7% during the fourth quarter. Hancock Whitney Corp now owns 25,368 shares of the transportation company's stock valued at $1,836,000 after buying an additional 173 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Canadian Pacific Kansas City by 205.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,257,338 shares of the transportation company's stock valued at $90,994,000 after buying an additional 845,747 shares in the last quarter. Finally, Mar Vista Investment Partners LLC grew its position in shares of Canadian Pacific Kansas City by 5.7% in the 4th quarter. Mar Vista Investment Partners LLC now owns 74,399 shares of the transportation company's stock worth $5,384,000 after buying an additional 4,029 shares during the period. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Performance

NYSE CP traded up $2.21 on Friday, hitting $74.94. 4,017,678 shares of the company traded hands, compared to its average volume of 2,723,277. The business's 50 day moving average price is $73.22 and its 200-day moving average price is $75.32. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. 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 market capitalization of $69.71 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 2.00 and a beta of 1.01.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, meeting analysts' consensus estimates of $0.74. The company had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.56 billion. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. Canadian Pacific Kansas City's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 EPS. Equities 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 company also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be issued a $0.1644 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.88%. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City's payout ratio is 17.93%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CP. Citigroup cut their price objective on shares of Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada reduced their price objective on Canadian Pacific Kansas City from $122.00 to $121.00 and set an "outperform" rating for the company in a research report on Thursday. Wolfe Research raised Canadian Pacific Kansas City from a "peer perform" rating to an "outperform" rating and set a $86.00 target price on the stock in a report on Wednesday, January 8th. Stifel Nicolaus reduced their price target on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating for the company in a report on Monday, April 14th. Finally, Stephens upped their price target on shares of Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $90.71.

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.