Covea Finance Increases Position in Canadian Pacific Kansas City Limited $CP

Covea Finance lifted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 87.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 99,934 shares of the transportation company’s stock after purchasing an additional 46,740 shares during the period. Covea Finance’s holdings in Canadian Pacific Kansas City were worth $7,440,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CP. Twin Peaks Wealth Advisors LLC bought a new position in Canadian Pacific Kansas City in the 2nd quarter valued at $27,000. Acadian Asset Management LLC purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter valued at $35,000. Chilton Capital Management LLC bought a new position in shares of Canadian Pacific Kansas City in the second quarter worth about $49,000. Chapman Financial Group LLC purchased a new position in Canadian Pacific Kansas City in the 2nd quarter worth about $56,000. Finally, WPG Advisers LLC bought a new stake in Canadian Pacific Kansas City during the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock opened at $74.56 on Friday. The company has a market capitalization of $66.90 billion, a PE ratio of 22.73, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a 50-day simple moving average of $72.87 and a two-hundred day simple moving average of $75.61. Canadian Pacific Kansas City Limited has a one year low of $66.49 and a one year high of $83.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.54 and a current ratio of 0.63.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations 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 EPS. Research analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.228 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. This represents a $0.91 dividend on an annualized basis and a dividend yield of 1.2%. Canadian Pacific Kansas City’s payout ratio is currently 20.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Evercore ISI reduced their target price on shares of Canadian Pacific Kansas City from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Barclays set a $90.00 price objective on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Citigroup decreased their target price on Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Royal Bank Of Canada dropped their price target on 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 report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.69.

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.