Bank of Nova Scotia Has $176.43 Million Stock Holdings in Canadian Pacific Kansas City Limited $CP

Bank of Nova Scotia increased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 42.4% in the 1st quarter, HoldingsChannel reports. The firm owned 2,242,557 shares of the transportation company’s stock after acquiring an additional 667,638 shares during the quarter. Bank of Nova Scotia’s holdings in Canadian Pacific Kansas City were worth $176,429,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CP. Prosperity Bancshares Inc bought a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at $26,000. Gilpin Wealth Management LLC bought a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth $29,000. McMillan Office Inc. acquired a new stake in Canadian Pacific Kansas City in the fourth quarter valued at about $31,000. Acadian Asset Management LLC acquired a new stake in Canadian Pacific Kansas City in the first quarter valued at about $35,000. Finally, Wealth Watch Advisors INC bought a new position in Canadian Pacific Kansas City in the third quarter valued at about $36,000. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Stock Up 1.2%

Canadian Pacific Kansas City stock opened at $92.40 on Friday. The firm has a market cap of $81.78 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 1.82 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 52-week low of $68.42 and a 52-week high of $93.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67. The firm has a 50 day moving average price of $88.71 and a two-hundred day moving average price of $83.33.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the company posted $1.06 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts predict that Canadian Pacific Kansas City Limited will post 3.69 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, June 26th will be given a dividend of $0.268 per share. This represents a $1.07 dividend on an annualized basis and a yield of 1.2%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, June 26th. Canadian Pacific Kansas City’s payout ratio is currently 24.07%.

Wall Street Analyst Weigh In

CP has been the subject of several research analyst reports. Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, June 24th. Sanford C. Bernstein boosted their price objective on Canadian Pacific Kansas City from $85.41 to $90.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 31st. Canadian Imperial Bank of Commerce upped their target price on Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an “outperformer” rating in a report on Thursday, June 25th. Evercore set a $91.00 target price on Canadian Pacific Kansas City and gave the company an “outperform” rating in a research report on Thursday, June 25th. Finally, Barclays set a $102.00 price target on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.91.

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.