NewEdge Advisors LLC Raises Holdings in Canadian Pacific Kansas City Limited $CP

NewEdge Advisors LLC lifted its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,290 shares of the transportation company’s stock after acquiring an additional 750 shares during the period. NewEdge Advisors LLC’s holdings in Canadian Pacific Kansas City were worth $2,197,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CP. Ethic Inc. bought a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth $203,000. Graham Capital Management L.P. bought a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth $530,000. Gotham Asset Management LLC bought a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth $1,046,000. Janus Henderson Group PLC raised its position in shares of Canadian Pacific Kansas City by 1.7% in the 4th quarter. Janus Henderson Group PLC now owns 446,035 shares of the transportation company’s stock worth $32,291,000 after acquiring an additional 7,404 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Canadian Pacific Kansas City by 22.8% in the 4th quarter. Lazard Asset Management LLC now owns 1,025 shares of the transportation company’s stock worth $74,000 after acquiring an additional 190 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Stock Up 1.6%

Shares of CP stock opened at $75.69 on Friday. The stock’s 50-day simple moving average is $76.63 and its 200-day simple moving average is $76.43. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.81 and a current ratio of 0.93. The firm has a market capitalization of $68.64 billion, a PE ratio of 23.58, a P/E/G ratio of 2.08 and a beta of 1.06. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $87.72.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be issued a $0.1651 dividend. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, September 26th. Canadian Pacific Kansas City’s dividend payout ratio is currently 20.56%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CP. Citigroup boosted their price target on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. Bank of America upped their target price on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Susquehanna reaffirmed a “positive” rating and set a $94.00 target price (up from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $91.00 target price on shares of Canadian Pacific Kansas City in a research report on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.30.

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.