BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 1,678,784 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 398.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,100,382 shares of the transportation company’s stock after acquiring an additional 1,678,784 shares during the period. Canadian Pacific Kansas City comprises about 1.0% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings, making the stock its 16th largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.23% of Canadian Pacific Kansas City worth $165,419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of CP. LRI Investments LLC purchased a new position in shares of Canadian Pacific Kansas City in the first quarter valued at about $32,000. Chris Bulman Inc purchased a new position in Canadian Pacific Kansas City during the 2nd quarter valued at about $35,000. ORG Partners LLC bought a new position in Canadian Pacific Kansas City during the 2nd quarter valued at approximately $39,000. Tobam bought a new position in Canadian Pacific Kansas City during the 1st quarter valued at approximately $51,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Canadian Pacific Kansas City in the 2nd quarter worth approximately $61,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Down 0.3 %

Shares of Canadian Pacific Kansas City stock opened at $85.56 on Tuesday. The company has a 50-day simple moving average of $82.20 and a two-hundred day simple moving average of $82.46. The stock has a market capitalization of $79.83 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 2.45 and a beta of 0.96. 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 debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.51.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the prior year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. On average, analysts anticipate that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be given a $0.1373 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 17.31%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CP. Stifel Nicolaus boosted their target price on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Scotiabank upgraded shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Barclays cut their target price on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Sanford C. Bernstein increased their price target on shares of Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Finally, Wells Fargo & Company began coverage on shares of Canadian Pacific Kansas City in a report on Friday, June 7th. They issued an “overweight” rating and a $90.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.36.

Canadian Pacific Kansas City Company 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.