Allspring Global Investments Holdings LLC Increases Position in Canadian Pacific Kansas City Limited $CP

Allspring Global Investments Holdings LLC boosted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,021,956 shares of the transportation company’s stock after buying an additional 187,066 shares during the period. Canadian Pacific Kansas City accounts for approximately 0.7% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 13th largest holding. Allspring Global Investments Holdings LLC’s holdings in Canadian Pacific Kansas City were worth $450,623,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC acquired a new position in Canadian Pacific Kansas City in the second quarter valued at $27,000. Acadian Asset Management LLC purchased a new position in shares of Canadian Pacific Kansas City in the first quarter valued at $35,000. Chilton Capital Management LLC acquired a new stake in Canadian Pacific Kansas City during the 2nd quarter valued at $49,000. Chapman Financial Group LLC purchased a new stake in Canadian Pacific Kansas City during the 2nd quarter worth $56,000. Finally, LRI Investments LLC lifted its holdings in Canadian Pacific Kansas City by 42.1% in the 2nd quarter. LRI Investments LLC now owns 719 shares of the transportation company’s stock worth $57,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CP. National Bankshares reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 18th. Barclays set a $90.00 price objective on shares of Canadian Pacific Kansas City and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Wall Street Zen raised shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Royal Bank Of Canada reduced their price target on shares of Canadian Pacific Kansas City from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Finally, Morgan Stanley upgraded Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and an average price target of $91.69.

Canadian Pacific Kansas City Stock Performance

CP stock opened at $74.24 on Wednesday. The company has a 50-day simple moving average of $72.77 and a 200 day simple moving average of $75.40. The company has a market capitalization of $66.62 billion, a P/E ratio of 22.64, a PEG ratio of 1.88 and a beta of 1.11. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 0.46. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $83.65.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, October 29th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $0.99 earnings per share. Sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.228 per share. This represents a $0.91 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, December 31st. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. Canadian Pacific Kansas City’s dividend payout ratio is presently 20.12%.

About Canadian Pacific Kansas City

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.