Van ECK Associates Corp Acquires 25,216 Shares of Canadian Pacific Kansas City Limited $CP

Van ECK Associates Corp grew its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 387,458 shares of the transportation company’s stock after buying an additional 25,216 shares during the period. Van ECK Associates Corp’s holdings in Canadian Pacific Kansas City were worth $33,572,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fiduciary Financial Advisors purchased a new stake in Canadian Pacific Kansas City in the second quarter worth $25,000. Prosperity Bancshares Inc bought a new stake in Canadian Pacific Kansas City in the fourth quarter valued at $26,000. Gilpin Wealth Management LLC purchased a new position in Canadian Pacific Kansas City during the 4th quarter valued at $29,000. McMillan Office Inc. purchased a new position in Canadian Pacific Kansas City during the 4th quarter valued at $31,000. Finally, Acadian Asset Management LLC bought a new position in Canadian Pacific Kansas City in the 1st quarter worth $35,000. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

CP opened at $94.04 on Monday. The stock has a fifty day simple moving average of $90.92 and a two-hundred day simple moving average of $86.76. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The company has a market cap of $82.60 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 12-month low of $68.42 and a 12-month high of $96.90.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Research analysts predict that Canadian Pacific Kansas City Limited will post 3.72 earnings per share for the current fiscal 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 $0.268 dividend. This represents a $1.07 annualized dividend 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%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CP. Stephens raised shares of Canadian Pacific Kansas City to a “hold” rating in a research report on Wednesday, July 8th. Susquehanna boosted their price target on shares of Canadian Pacific Kansas City from $104.00 to $106.00 and gave the company a “positive” rating in a research report on Tuesday, July 14th. Citigroup increased their price target on shares of Canadian Pacific Kansas City from $106.00 to $109.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Evercore set a $99.00 price objective on shares of Canadian Pacific Kansas City in a report on Thursday, July 30th. Finally, Wells Fargo & Company lifted 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. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and an average target price of $108.60.

Canadian Pacific Kansas City Company 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.