Veritas Asset Management LLP Has $496.32 Million Position in Canadian Pacific Kansas City Limited $CP

Veritas Asset Management LLP reduced its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 16.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,727,867 shares of the transportation company’s stock after selling 1,126,494 shares during the period. Canadian Pacific Kansas City makes up 8.9% of Veritas Asset Management LLP’s portfolio, making the stock its 3rd largest holding. Veritas Asset Management LLP’s holdings in Canadian Pacific Kansas City were worth $496,320,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Prosperity Bancshares Inc purchased a new stake in shares of Canadian Pacific Kansas City during the 4th quarter valued at about $26,000. Gilpin Wealth Management LLC bought a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at about $29,000. McMillan Office Inc. purchased a new position in Canadian Pacific Kansas City in the fourth quarter worth about $31,000. Wealth Watch Advisors INC purchased a new position in Canadian Pacific Kansas City in the third quarter worth about $36,000. Finally, Acadian Asset Management LLC bought a new stake in Canadian Pacific Kansas City during the first quarter worth approximately $35,000. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CP. Wells Fargo & Company upped their price objective on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Citigroup boosted their target price on Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. ATB Cormark Capital Markets downgraded Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, April 17th. Wall Street Zen raised shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Finally, Citizens Jmp began coverage on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and a consensus price target of $108.60.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock opened at $93.53 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.50. The firm has a market capitalization of $82.16 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 1-year low of $68.42 and a 1-year high of $94.66. The company’s 50-day moving average is $89.72 and its 200 day moving average is $85.41.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 earnings per share. Research analysts forecast that Canadian Pacific Kansas City Limited will post 3.7 EPS for the current year.

Canadian Pacific Kansas City Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be paid a dividend of $0.268 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 25th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 25.08%.

Canadian Pacific Kansas City 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.