6,978,871 Shares in Canadian Pacific Kansas City Limited $CP Acquired by Legal & General Group Plc

Legal & General Group Plc bought a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,978,871 shares of the transportation company’s stock, valued at approximately $604,797,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Fiduciary Financial Advisors purchased a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $25,000. Prosperity Bancshares Inc purchased a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth $26,000. Gilpin Wealth Management LLC purchased a new stake in shares of Canadian Pacific Kansas City during the 4th quarter worth $29,000. McMillan Office Inc. bought a new stake in Canadian Pacific Kansas City during the fourth quarter valued at about $31,000. Finally, Acadian Asset Management LLC bought a new stake in Canadian Pacific Kansas City during the first quarter valued at about $35,000. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

CP has been the subject of a number of recent research reports. Citizens Jmp assumed coverage on shares of Canadian Pacific Kansas City in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Wells Fargo & Company raised their price target on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Citigroup lifted their price objective on shares of Canadian Pacific Kansas City from $106.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Stephens upgraded shares of Canadian Pacific Kansas City to a “hold” rating in a research note on Wednesday, July 8th. Finally, Evercore set a $99.00 price objective on shares of Canadian Pacific Kansas City in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.60.

Canadian Pacific Kansas City Stock Down 2.1%

Shares of CP stock opened at $94.69 on Tuesday. Canadian Pacific Kansas City Limited has a 1-year low of $68.42 and a 1-year high of $96.90. The stock’s fifty day moving average price is $90.32 and its 200 day moving average price is $86.36. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.50. The company has a market cap of $83.17 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 1.89 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the company posted $1.12 EPS. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, research analysts expect that Canadian Pacific Kansas City Limited will post 3.7 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be issued a dividend of $0.268 per share. The ex-dividend date is Friday, September 25th. This represents a $1.07 annualized dividend and a dividend yield of 1.1%. Canadian Pacific Kansas City’s dividend payout ratio is 25.08%.

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.