HighPoint Advisor Group LLC Purchases New Shares in Canadian Pacific Kansas City Limited (NYSE:CP)

HighPoint Advisor Group LLC purchased a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the 4th quarter, HoldingsChannel reports. The firm purchased 14,223 shares of the transportation company’s stock, valued at approximately $1,243,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Canadian Pacific Kansas City by 9.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,565 shares of the transportation company’s stock valued at $265,000 after purchasing an additional 300 shares in the last quarter. Kestra Advisory Services LLC lifted its holdings in Canadian Pacific Kansas City by 22.7% during the third quarter. Kestra Advisory Services LLC now owns 13,448 shares of the transportation company’s stock valued at $1,001,000 after purchasing an additional 2,485 shares in the last quarter. QRG Capital Management Inc. purchased a new position in Canadian Pacific Kansas City during the third quarter valued at $960,000. Envestnet Portfolio Solutions Inc. purchased a new position in Canadian Pacific Kansas City during the third quarter valued at $5,873,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Canadian Pacific Kansas City by 83.9% during the third quarter. Envestnet Asset Management Inc. now owns 1,880,185 shares of the transportation company’s stock valued at $140,015,000 after purchasing an additional 857,878 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

CP has been the topic of several research reports. Susquehanna decreased their price target on shares of Canadian Pacific Kansas City from $84.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Barclays lifted their target price on shares of Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Raymond James lifted their target price on shares of Canadian Pacific Kansas City from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, April 25th. Finally, Wells Fargo & Company assumed coverage on shares of Canadian Pacific Kansas City in a research note on Friday, June 7th. They set an “overweight” rating and a $90.00 target price on the stock. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of “Hold” and an average price target of $96.32.

Canadian Pacific Kansas City Stock Up 0.5 %

Shares of NYSE CP traded up $0.37 during mid-day trading on Tuesday, hitting $78.55. The company had a trading volume of 139,683 shares, compared to its average volume of 2,164,540. The company has a market capitalization of $73.27 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 2.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.43. Canadian Pacific Kansas City Limited has a 1-year low of $68.92 and a 1-year high of $91.58. The business’s 50-day simple moving average is $81.00 and its 200 day simple moving average is $81.90.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. On average, analysts predict that Canadian Pacific Kansas City Limited will post 3.14 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be paid a $0.141 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City’s payout ratio is currently 17.95%.

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.