Bank of Nova Scotia Boosts Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Bank of Nova Scotia grew its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 0.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,077,871 shares of the transportation company’s stock after buying an additional 27,474 shares during the period. Bank of Nova Scotia’s holdings in Canadian Pacific Kansas City were worth $216,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC increased its holdings in shares of Canadian Pacific Kansas City by 209.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. North Capital Inc. acquired a new stake in Canadian Pacific Kansas City in the 1st quarter valued at $27,000. Bernard Wealth Management Corp. acquired a new stake in Canadian Pacific Kansas City in the 4th quarter valued at $31,000. Hexagon Capital Partners LLC grew its stake in Canadian Pacific Kansas City by 49.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 164 shares during the period. Finally, Parvin Asset Management LLC acquired a new stake in Canadian Pacific Kansas City in the 4th quarter valued at $43,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Trading Down 0.9%

Shares of CP opened at $72.89 on Friday. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $87.72. The company has a quick ratio of 0.70, a current ratio of 0.81 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average is $79.74 and its two-hundred day moving average is $76.92. The stock has a market cap of $66.91 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 2.06 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 28.05%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.1651 per share. The ex-dividend date is Friday, September 26th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. Canadian Pacific Kansas City’s payout ratio is presently 20.56%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CP. Susquehanna reissued a “positive” rating and issued a $94.00 price target (up previously from $90.00) on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 24th. Royal Bank Of Canada dropped their price target on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Bank of America lifted their price target on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Stifel Nicolaus dropped their price target on shares of Canadian Pacific Kansas City from $85.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Finally, Stephens lifted their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.30.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers.