Corient Private Wealth LP Takes $28.70 Million Position in Canadian Pacific Kansas City Limited $CP

Corient Private Wealth LP bought a new position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the second quarter, HoldingsChannel.com reports. The fund bought 331,252 shares of the transportation company’s stock, valued at approximately $28,703,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Canadian Pacific Kansas City in the 4th quarter valued at $978,558,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Canadian Pacific Kansas City during the second quarter worth $802,983,000. The Manufacturers Life Insurance Company acquired a new position in Canadian Pacific Kansas City during the second quarter worth $657,672,000. Legal & General Group Plc bought a new position in shares of Canadian Pacific Kansas City during the second quarter valued at $604,797,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $576,687,000. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

Shares of CP stock opened at $93.89 on Friday. Canadian Pacific Kansas City Limited has a 52 week low of $68.42 and a 52 week high of $96.90. The stock has a market capitalization of $82.47 billion, a PE ratio of 30.19, a PEG ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. The stock’s fifty day moving average is $90.76 and its 200-day moving average is $86.67.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 earnings per share. Equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.7 EPS for the current fiscal year.

Canadian Pacific Kansas City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be paid a $0.268 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.1%. Canadian Pacific Kansas City’s payout ratio is currently 25.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CP shares. Citizens Jmp began coverage on shares of Canadian Pacific Kansas City in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Stephens upgraded shares of Canadian Pacific Kansas City to a “hold” rating in a research report on Wednesday, July 8th. Evercore set a $99.00 price objective on shares of Canadian Pacific Kansas City in a research note on Thursday, July 30th. Wells Fargo & Company raised their price objective on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Finally, Citigroup lifted their target price on shares of Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. 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, the company currently has an average rating of “Moderate Buy” and an average target price of $108.60.

Canadian Pacific Kansas City 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.