4,517 shares in Canadian Pacific Kansas City Limited (NYSE:CP) bought by iA Global Asset Management Inc.

VaselineSeptember 1, 2024

0 3 minutes read

iA Global Asset Management Inc. purchased a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP – Free Report) (TSE:CP) in the second quarter, Holdings Channel reports. The fund acquired 4,517 shares of the transportation company’s stock, valued at approximately $356,000.

A number of other large investors have also recently added to or reduced their stakes in CP. LRI Investments LLC purchased a new position in shares of Canadian Pacific Kansas City in the first quarter worth about $32,000. ORG Partners LLC bought a new position in Canadian Pacific Kansas City in the second quarter valued at $39,000. Tobam acquired a new position in Canadian Pacific Kansas City in the first quarter worth $51,000. Rational Advisors LLC bought a new stake in Canadian Pacific Kansas City in the first quarter valued at $52,000. Finally, Partnership Wealth Management LLC purchased a new stake in shares of Canadian Pacific Kansas City during the fourth quarter valued at $52,000. 72.20% of shares are currently owned by institutional investors.

Canadian Pacific Kansas City price performance

Shares of NYSE:CP opened at $82.94 on Friday. The company’s 50-day moving average is $80.62, and its two-hundred-day moving average is $82.58. The company has a current ratio of 0.51, a quick ratio of 0.43, and a debt-to-equity ratio of 0.42. The firm has a market cap of $77.39 billion, a P/E ratio of 26.58, a PEG ratio of 2.27 and a beta of 0.96. Canadian Pacific Kansas City Limited has a 52-week low of $68.92 and a 52-week high of $91.58.

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Canadian Pacific Kansas City (NYSE:CP – Get Your Free Report ) (TSE:CP) last posted its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.31. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The company’s revenue grew by 13.5% year-on-year. During the same period last year, the company posted earnings of $0.62 per share. analysts anticipate that Canadian Pacific Kansas City Limited will post 3.11 earnings per share for the current year.

Canadian Pacific Kansas City cuts dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a $0.1373 dividend. This represents an annualized dividend of $0.55 and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, September 27. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 17.31%.

Analyst upgrades and downgrades

Several research firms have recently commented on CP. Wells Fargo & Company began coverage on shares of Canadian Pacific Kansas City in a report on Friday, June 7th. They issued an “overweight” rating and a $90.00 price target for the company. Jefferies Financial Group cut their price target on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Sanford C. Bernstein upped their target price on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a report on Monday, July 8th. Susquehanna restated a “neutral” rating and set a $80.00 price objective on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 31st. Finally, Scotiabank raised Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, July 10th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average target price of $96.56, according to data from MarketBeat.

Check out our latest review of CP

About Canadian Pacific Kansas City

(Free report)

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railroad in Canada, the United States and Mexico. The company carries bulk cargoes including grain, coal, potash, fertilizers and sulphur; transportation of goods such as forest products, energy, chemicals and plastics, metals, minerals, consumer goods and automobiles; and intermodal traffic comprising overseas containerized retail goods.