Caisse DE Depot ET Placement DU Quebec Raises Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 39.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,010,385 shares of the transportation company’s stock after purchasing an additional 565,783 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.22% of Canadian Pacific Kansas City worth $172,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirova US LLC purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter worth about $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Canadian Pacific Kansas City by 398.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock valued at $165,419,000 after purchasing an additional 1,678,784 shares during the period. Wulff Hansen & CO. boosted its position in Canadian Pacific Kansas City by 8,261.4% during the 2nd quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company’s stock worth $74,282,000 after purchasing an additional 932,216 shares during the period. AGF Management Ltd. raised its position in Canadian Pacific Kansas City by 86.5% in the second quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company’s stock valued at $125,094,000 after purchasing an additional 735,816 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in shares of Canadian Pacific Kansas City by 5.5% during the second quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock worth $1,088,155,000 after purchasing an additional 723,188 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup decreased their price target on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Evercore ISI raised their price target on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Susquehanna upgraded shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and cut their price objective for the stock from $94.00 to $92.00 in a report on Thursday, October 24th. Stifel Nicolaus cut their target price on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Finally, Barclays increased their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.88.

Canadian Pacific Kansas City Stock Up 1.7 %

NYSE:CP opened at $76.62 on Friday. The firm has a market capitalization of $71.51 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The stock has a 50 day moving average of $79.26 and a 200-day moving average of $80.24. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a 52 week low of $71.08 and a 52 week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts predict that Canadian Pacific Kansas City Limited will post 3.06 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be given a $0.14 dividend. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 19.64%.

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.