Caisse de depot et placement du Quebec Acquires Shares of 2,635,370 Canadian Pacific Kansas City Limited $CP

Caisse de depot et placement du Quebec bought a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 2nd quarter, Holdings Channel.com reports. The fund bought 2,635,370 shares of the transportation company’s stock, valued at approximately $228,402,000.

Several other large investors have also made changes to their positions in CP. Norges Bank bought a new stake in Canadian Pacific Kansas City during the 4th quarter worth about $978,558,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at about $802,983,000. The Manufacturers Life Insurance Company bought a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at about $657,672,000. Legal & General Group Plc acquired a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter worth approximately $604,797,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter worth approximately $576,687,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $94.74 on Thursday. The business has a 50 day simple moving average of $90.61 and a 200 day simple moving average of $86.58. Canadian Pacific Kansas City Limited has a 52-week low of $68.42 and a 52-week high of $96.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. The stock has a market cap of $83.22 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 1.84 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, July 29th. The transportation company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the company posted $1.12 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. Analysts anticipate that Canadian Pacific Kansas City Limited will post 3.7 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be issued 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 is Friday, September 25th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 25.08%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CP. Scotiabank restated an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 16th. Evercore set a $99.00 target price on shares of Canadian Pacific Kansas City in a research report on Thursday, July 30th. Citigroup increased their price target on Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Citizens Jmp began coverage on Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Finally, Wells Fargo & Company lifted their price objective on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.60.

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.