Canadian Pacific Kansas City Limited $CP Shares Purchased by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. increased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 17.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 40,612 shares of the transportation company’s stock after buying an additional 6,095 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Canadian Pacific Kansas City were worth $3,219,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CP. Frank Rimerman Advisors LLC raised its position in shares of Canadian Pacific Kansas City by 0.8% in the second quarter. Frank Rimerman Advisors LLC now owns 17,654 shares of the transportation company’s stock worth $1,399,000 after acquiring an additional 139 shares during the period. Redmond Asset Management LLC increased its stake in shares of Canadian Pacific Kansas City by 0.5% in the 1st quarter. Redmond Asset Management LLC now owns 31,617 shares of the transportation company’s stock valued at $2,220,000 after purchasing an additional 148 shares in the last quarter. Accretive Wealth Partners LLC raised its holdings in Canadian Pacific Kansas City by 1.3% in the 2nd quarter. Accretive Wealth Partners LLC now owns 11,806 shares of the transportation company’s stock worth $936,000 after purchasing an additional 157 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in Canadian Pacific Kansas City by 9.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,153 shares of the transportation company’s stock worth $171,000 after purchasing an additional 177 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Canadian Pacific Kansas City by 0.6% in the second quarter. Assenagon Asset Management S.A. now owns 28,857 shares of the transportation company’s stock valued at $2,282,000 after purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP opened at $69.93 on Friday. The firm has a 50-day simple moving average of $73.85 and a 200-day simple moving average of $76.65. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $62.74 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 1.61 and a beta of 1.08. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $83.65.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the company posted $0.99 EPS. On average, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Wednesday, December 31st will be issued a $0.228 dividend. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. This represents a $0.91 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Canadian Pacific Kansas City’s payout ratio is 19.51%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Citigroup reduced their target price on Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 30th. Barclays set a $90.00 price objective on shares of Canadian Pacific Kansas City and gave the company an “overweight” rating in a report on Thursday, October 2nd. Evercore ISI cut their target price on shares of Canadian Pacific Kansas City from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Finally, Susquehanna set a $87.00 price target on shares of Canadian Pacific Kansas City in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.69.

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.