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

PCJ Investment Counsel Ltd. boosted its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 81.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 80,540 shares of the transportation company’s stock after acquiring an additional 36,100 shares during the quarter. Canadian Pacific Kansas City accounts for about 2.2% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 13th biggest holding. PCJ Investment Counsel Ltd.’s holdings in Canadian Pacific Kansas City were worth $6,386,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its holdings in Canadian Pacific Kansas City by 209.8% during the first 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. Cheviot Value Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth about $30,000. Acadian Asset Management LLC acquired a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth about $35,000. Chilton Capital Management LLC purchased a new position in Canadian Pacific Kansas City in the 2nd quarter valued at about $49,000. Finally, WPG Advisers LLC acquired a new stake in Canadian Pacific Kansas City in the 1st quarter worth about $50,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CP. Royal Bank Of Canada reduced their target price on Canadian Pacific Kansas City from $129.00 to $127.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Barclays set a $90.00 price target on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 30th. National Bankshares reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 18th. Finally, Stephens upped their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.69.

Canadian Pacific Kansas City Stock Up 2.9%

Shares of CP opened at $70.90 on Friday. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $83.65. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $74.93 and a two-hundred day simple moving average of $76.82. The company has a market capitalization of $63.84 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the company posted $0.99 EPS. 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 declared a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.228 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.91 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. Canadian Pacific Kansas City’s payout ratio is 20.12%.

About Canadian Pacific Kansas City

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.