Harvest Portfolios Group Inc. Increases Stake in Canadian Pacific Kansas City Limited $CP

Harvest Portfolios Group Inc. raised its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 16.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,868 shares of the transportation company’s stock after buying an additional 7,181 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Canadian Pacific Kansas City were worth $3,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Canadian Pacific Kansas City by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 38,734,456 shares of the transportation company’s stock valued at $2,884,826,000 after buying an additional 510,633 shares in the last quarter. Invesco Ltd. grew its holdings in Canadian Pacific Kansas City by 18.3% during the 3rd quarter. Invesco Ltd. now owns 23,128,485 shares of the transportation company’s stock valued at $1,722,841,000 after buying an additional 3,585,030 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Canadian Pacific Kansas City by 9.1% during the 3rd quarter. CIBC Asset Management Inc now owns 8,352,370 shares of the transportation company’s stock valued at $623,937,000 after buying an additional 698,705 shares in the last quarter. Legal & General Group Plc grew its holdings in Canadian Pacific Kansas City by 6.1% during the 3rd quarter. Legal & General Group Plc now owns 7,193,408 shares of the transportation company’s stock valued at $535,836,000 after buying an additional 413,042 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in Canadian Pacific Kansas City by 3.1% during the 3rd quarter. Fiera Capital Corp now owns 5,864,045 shares of the transportation company’s stock valued at $436,581,000 after buying an additional 178,661 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Up 0.2%

NYSE CP opened at $86.29 on Thursday. 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 company has a market capitalization of $76.60 billion, a P/E ratio of 26.63, a P/E/G ratio of 1.84 and a beta of 1.09. Canadian Pacific Kansas City Limited has a one year low of $68.42 and a one year high of $89.42. The stock has a 50 day moving average price of $82.37 and a 200-day moving average price of $78.01.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.70 billion. Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.06 earnings per share. As a group, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.76 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

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

Analyst Upgrades and Downgrades

CP has been the subject of a number of research analyst reports. Citigroup increased their price objective on shares of Canadian Pacific Kansas City from $93.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, April 30th. National Bank Financial raised shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Evercore cut their price objective on shares of Canadian Pacific Kansas City from $87.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, January 29th. Scotiabank lowered shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Finally, Royal Bank Of Canada lowered their target price on Canadian Pacific Kansas City from $128.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.89.

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.