Covea Finance Buys 46,740 Shares of Canadian Pacific Kansas City Limited $CP

Covea Finance lifted its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 87.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,934 shares of the transportation company’s stock after acquiring an additional 46,740 shares during the quarter. Covea Finance’s holdings in Canadian Pacific Kansas City were worth $7,440,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CP. Vanderbilt University boosted its stake in Canadian Pacific Kansas City by 10.3% in the 2nd quarter. Vanderbilt University now owns 75,452 shares of the transportation company’s stock worth $5,982,000 after purchasing an additional 7,050 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. lifted its holdings in shares of Canadian Pacific Kansas City by 2.2% in the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 648,343 shares of the transportation company’s stock worth $51,410,000 after buying an additional 14,260 shares in the last quarter. Key Financial Inc purchased a new position in shares of Canadian Pacific Kansas City in the second quarter worth $371,000. Ninety One North America Inc. boosted its position in shares of Canadian Pacific Kansas City by 135.7% during the second quarter. Ninety One North America Inc. now owns 206,785 shares of the transportation company’s stock worth $16,394,000 after acquiring an additional 119,052 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in Canadian Pacific Kansas City by 7.6% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,935,337 shares of the transportation company’s stock valued at $153,847,000 after acquiring an additional 136,981 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

CP has been the topic of several research analyst reports. Susquehanna set a $87.00 price target on shares of Canadian Pacific Kansas City in a research note on Thursday, October 30th. Citigroup reduced their target price on Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Jefferies Financial Group set a $90.00 price target on Canadian Pacific Kansas City in a research note on Thursday, October 30th. Royal Bank Of Canada reduced their price objective on Canadian Pacific Kansas City from $129.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.69.

Canadian Pacific Kansas City Trading Up 0.1%

Shares of NYSE CP opened at $74.56 on Friday. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $83.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.63 and a quick ratio of 0.54. The business’s 50 day moving average is $72.87 and its two-hundred day moving average is $75.61. The stock has a market capitalization of $66.90 billion, a P/E ratio of 22.73, a PEG ratio of 1.88 and a beta of 1.11.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, October 29th. The transportation company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Canadian Pacific Kansas City had a return on equity of 8.79% and a net margin of 28.41%.During the same quarter last year, the firm posted $0.99 EPS. As a group, research analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.228 per share. This represents a $0.91 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, December 31st. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 20.12%.

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.