PCJ Investment Counsel Ltd. Decreases Stock Holdings in Canadian Pacific Kansas City Limited $CP

PCJ Investment Counsel Ltd. reduced its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 38.4% in the third quarter, Holdings Channel reports. The fund owned 49,580 shares of the transportation company’s stock after selling 30,960 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in Canadian Pacific Kansas City were worth $3,692,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in shares of Canadian Pacific Kansas City by 818,578.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 925,107 shares of the transportation company’s stock worth $68,911,000 after buying an additional 924,994 shares during the last quarter. Van ECK Associates Corp grew its position in Canadian Pacific Kansas City by 12.3% in the third quarter. Van ECK Associates Corp now owns 324,376 shares of the transportation company’s stock worth $24,155,000 after acquiring an additional 35,474 shares in the last quarter. Capital World Investors increased its stake in Canadian Pacific Kansas City by 96.3% during the third quarter. Capital World Investors now owns 13,166 shares of the transportation company’s stock worth $981,000 after acquiring an additional 6,458 shares during the last quarter. Legal & General Group Plc increased its stake in Canadian Pacific Kansas City by 6.1% during the third quarter. Legal & General Group Plc now owns 7,193,408 shares of the transportation company’s stock worth $535,836,000 after acquiring an additional 413,042 shares during the last quarter. Finally, Sienna Gestion bought a new stake in Canadian Pacific Kansas City during the third quarter worth approximately $7,315,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

CP stock opened at $83.91 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $78.54 and its two-hundred day simple moving average is $75.67. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $89.42. The firm has a market cap of $75.35 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.80 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, January 28th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.04). The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Canadian Pacific Kansas City had a net margin of 27.49% and a return on equity of 8.91%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 earnings per share. Analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Friday, March 27th will be paid a $0.228 dividend. This represents a $0.91 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, March 27th. Canadian Pacific Kansas City’s dividend payout ratio is currently 20.43%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CP. Scotiabank reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Wednesday, January 21st. Morgan Stanley upgraded Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a report on Monday, December 8th. National Bank Financial downgraded Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Royal Bank Of Canada reiterated an “outperform” rating and set a $124.00 price objective (down from $127.00) on shares of Canadian Pacific Kansas City in a research report on Thursday, January 29th. Finally, Evercore lowered their target price 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. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Pacific Kansas City Company 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.