Forge First Asset Management Inc. Buys 44,911 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Forge First Asset Management Inc. raised its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 16.6% in the first quarter, HoldingsChannel.com reports. The firm owned 315,911 shares of the transportation company’s stock after purchasing an additional 44,911 shares during the quarter. Canadian Pacific Kansas City comprises approximately 9.5% of Forge First Asset Management Inc.’s holdings, making the stock its 2nd biggest holding. Forge First Asset Management Inc.’s holdings in Canadian Pacific Kansas City were worth $22,214,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Causeway Capital Management LLC lifted its holdings in shares of Canadian Pacific Kansas City by 76.5% during the 4th quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company’s stock worth $1,116,632,000 after acquiring an additional 6,687,770 shares during the period. Invesco Ltd. lifted its holdings in shares of Canadian Pacific Kansas City by 25.7% during the 4th quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company’s stock worth $770,526,000 after acquiring an additional 2,177,604 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Canadian Pacific Kansas City during the 1st quarter worth approximately $126,928,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Canadian Pacific Kansas City by 44.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company’s stock worth $351,723,000 after acquiring an additional 1,516,684 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Canadian Pacific Kansas City by 11.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company’s stock worth $899,805,000 after acquiring an additional 1,262,913 shares during the period. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Down 0.9%

Shares of NYSE CP opened at $72.89 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.81. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $87.72. The firm has a 50 day moving average price of $79.74 and a two-hundred day moving average price of $76.92. The stock has a market cap of $66.91 billion, a P/E 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 announced its quarterly earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.68%. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company posted $0.93 EPS. The company’s revenue was up 8.0% on a year-over-year basis. As a group, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be given a dividend of $0.1651 per share. 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. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City’s dividend payout ratio is currently 20.56%.

Analysts Set New Price Targets

CP has been the subject of a number of recent analyst reports. Royal Bank Of Canada cut their price target on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Scotiabank reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Barclays increased their price objective on shares of Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Stifel Nicolaus dropped their price objective on shares of Canadian Pacific Kansas City from $85.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $91.00 price objective on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and a consensus target price of $92.30.

Canadian Pacific Kansas City Company 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.