Meridian Investment Counsel Inc. Makes New Investment in Canadian Pacific Kansas City Limited $CP

Meridian Investment Counsel Inc. acquired a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 32,350 shares of the transportation company’s stock, valued at approximately $2,410,000.

Several other large investors have also recently added to or reduced their stakes in CP. Triasima Portfolio Management inc. purchased a new position in Canadian Pacific Kansas City in the 2nd quarter valued at approximately $2,989,000. Vanderbilt University raised its stake in shares of Canadian Pacific Kansas City by 10.3% in the second quarter. Vanderbilt University now owns 75,452 shares of the transportation company’s stock valued at $5,982,000 after acquiring an additional 7,050 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in shares of Canadian Pacific Kansas City by 2.2% in the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 648,343 shares of the transportation company’s stock valued at $51,410,000 after acquiring an additional 14,260 shares in the last quarter. Key Financial Inc purchased a new position in Canadian Pacific Kansas City in the second quarter valued at $371,000. Finally, Cardinal Capital Management Inc. grew its stake in Canadian Pacific Kansas City by 11.6% during the 3rd quarter. Cardinal Capital Management Inc. now owns 1,494,133 shares of the transportation company’s stock worth $111,349,000 after purchasing an additional 155,640 shares in 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 stock opened at $70.48 on Thursday. The stock’s 50-day moving average is $72.54 and its two-hundred day moving average is $75.12. The firm has a market cap of $63.24 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.61 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 1 year low of $66.49 and a 1 year high of $83.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.54 and a current ratio of 0.63.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, October 29th. The transportation company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.01). The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. During the same period in the previous year, the firm posted $0.99 earnings per share. Analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be paid a $0.228 dividend. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. This represents a $0.91 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 20.12%.

Wall Street Analyst Weigh In

CP has been the topic of a number of analyst reports. Barclays set a $90.00 price target on Canadian Pacific Kansas City and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Jefferies Financial Group set a $90.00 target price on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. Evercore ISI lowered their price target on shares of Canadian Pacific Kansas City from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.36.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.