Canadian Pacific Kansas City Limited (NYSE:CP) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 119.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,465 shares of the transportation company’s stock after acquiring an additional 136,805 shares during the quarter. Van ECK Associates Corp’s holdings in Canadian Pacific Kansas City were worth $19,837,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Canadian Pacific Kansas City by 1.5% in the third quarter. Vanguard Group Inc. now owns 33,752,798 shares of the transportation company’s stock valued at $2,511,546,000 after acquiring an additional 483,138 shares in the last quarter. FMR LLC grew its position in shares of Canadian Pacific Kansas City by 1.8% in the third quarter. FMR LLC now owns 31,001,865 shares of the transportation company’s stock valued at $2,304,549,000 after purchasing an additional 553,163 shares during the period. Mackenzie Financial Corp grew its position in shares of Canadian Pacific Kansas City by 5.9% in the fourth quarter. Mackenzie Financial Corp now owns 14,178,436 shares of the transportation company’s stock valued at $1,122,370,000 after purchasing an additional 787,608 shares during the period. CIBC Asset Management Inc increased its stake in Canadian Pacific Kansas City by 0.9% in the third quarter. CIBC Asset Management Inc now owns 9,536,530 shares of the transportation company’s stock valued at $711,045,000 after purchasing an additional 86,525 shares during the last quarter. Finally, Bank of Nova Scotia lifted its position in Canadian Pacific Kansas City by 0.4% during the third quarter. Bank of Nova Scotia now owns 8,305,174 shares of the transportation company’s stock worth $617,332,000 after buying an additional 36,287 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

CP stock opened at $77.57 on Thursday. The stock’s 50 day moving average is $86.66 and its two-hundred day moving average is $79.99. Canadian Pacific Kansas City Limited has a 52-week low of $68.92 and a 52-week high of $91.58. The company has a market capitalization of $72.34 billion, a PE ratio of 24.86, a P/E/G ratio of 2.29 and a beta of 0.94. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 0.43.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Analysts predict that Canadian Pacific Kansas City Limited will post 3.15 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be given a dividend of $0.141 per share. The ex-dividend date is Friday, June 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.73%. Canadian Pacific Kansas City’s dividend payout ratio is currently 17.63%.

Analyst Upgrades and Downgrades

Several research firms have commented on CP. Scotiabank restated a “sector perform” rating on shares of Canadian Pacific Kansas City in a report on Monday, March 25th. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, April 25th. Barclays increased their price target on shares of Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Bank of America lowered their price objective on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Susquehanna Bancshares lowered Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and cut their target price for the stock from $90.00 to $87.00 in a research report on Monday, January 8th. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.42.

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.