Canadian Pacific Kansas City Limited $CP Stock: Cardinal Capital Management Inc. Grows Stake

Cardinal Capital Management Inc. raised its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,732,658 shares of the transportation company’s stock after acquiring an additional 30,613 shares during the quarter. Canadian Pacific Kansas City makes up 3.4% of Cardinal Capital Management Inc.’s portfolio, making the stock its 8th largest holding. Cardinal Capital Management Inc. owned 0.20% of Canadian Pacific Kansas City worth $147,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Triasima Portfolio Management inc. grew its stake in shares of Canadian Pacific Kansas City by 93.9% during the 3rd quarter. Triasima Portfolio Management inc. now owns 25,048 shares of the transportation company’s stock valued at $2,138,000 after acquiring an additional 12,133 shares during the period. Ninety One UK Ltd raised its stake in Canadian Pacific Kansas City by 0.6% during the 3rd quarter. Ninety One UK Ltd now owns 637,068 shares of the transportation company’s stock worth $54,385,000 after acquiring an additional 3,574 shares during the period. Formuepleje A S bought a new stake in Canadian Pacific Kansas City during the 3rd quarter worth approximately $1,085,000. Reliant Investment Management LLC purchased a new position in Canadian Pacific Kansas City during the third quarter valued at approximately $5,280,000. Finally, Sanders Morris Harris LLC purchased a new position in shares of Canadian Pacific Kansas City during the 3rd quarter valued at $1,311,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $87.34 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.50. Canadian Pacific Kansas City Limited has a 1-year low of $68.42 and a 1-year high of $96.90. The business has a 50 day simple moving average of $89.56 and a two-hundred day simple moving average of $87.85. The stock has a market capitalization of $76.43 billion, a PE ratio of 28.08, a P/E/G ratio of 1.83 and a beta of 1.13.

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. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Canadian Pacific Kansas City’s revenue was up 12.6% on a year-over-year basis. On average, research analysts predict that Canadian Pacific Kansas City Limited will post 3.68 EPS for the current fiscal year.

Canadian Pacific Kansas City Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be paid a C$0.27 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.07 annualized dividend and a dividend yield of 1.2%. Canadian Pacific Kansas City’s dividend payout ratio is currently 24.76%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citizens Jmp initiated coverage on Canadian Pacific Kansas City in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Canadian Imperial Bank of Commerce lifted their price objective on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the company an “outperformer” rating in a research report on Thursday, June 25th. Wall Street Zen raised shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. Barclays set a $102.00 target price on shares of Canadian Pacific Kansas City and gave the stock an “overweight” rating in a report on Thursday, June 25th. Finally, Citigroup restated a “cautious” rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $111.83.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City Limited (NYSE:CP) is a North American transportation company that operates a single-line railway linking Canada, the United States and Mexico. Headquartered in Calgary, Alberta, the company provides freight transportation and supply-chain services for customers across its extensive rail network.

CPKC transports a diverse range of products, including grain and fertilizers, coal, forest and industrial products, energy-related materials, automotive shipments, merchandise and intermodal freight.