SEB Asset Management AB Invests $10.95 Million in Canadian Pacific Kansas City Limited $CP

SEB Asset Management AB acquired a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CPFree Report) (TSE:CP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 139,583 shares of the transportation company’s stock, valued at approximately $10,949,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CP. Invesco Ltd. increased its holdings in shares of Canadian Pacific Kansas City by 1.3% in the 4th quarter. Invesco Ltd. now owns 23,431,949 shares of the transportation company’s stock valued at $1,725,294,000 after acquiring an additional 303,464 shares during the last quarter. FIL Ltd raised its holdings in shares of Canadian Pacific Kansas City by 20.2% during the fourth quarter. FIL Ltd now owns 16,666,777 shares of the transportation company’s stock worth $1,227,045,000 after purchasing an additional 2,804,686 shares during the period. Norges Bank bought a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth about $978,558,000. Geode Capital Management LLC boosted its holdings in shares of Canadian Pacific Kansas City by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 8,821,358 shares of the transportation company’s stock valued at $661,339,000 after buying an additional 461,724 shares during the period. Finally, Cibc World Market Inc. boosted its holdings in shares of Canadian Pacific Kansas City by 21.9% in the 4th quarter. Cibc World Market Inc. now owns 8,433,042 shares of the transportation company’s stock valued at $620,925,000 after buying an additional 1,517,323 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CP shares. Evercore set a $91.00 target price on Canadian Pacific Kansas City and gave the company an “outperform” rating in a research note on Thursday, June 25th. Citizens Jmp initiated coverage on Canadian Pacific Kansas City in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Citigroup boosted their price objective on Canadian Pacific Kansas City from $97.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Royal Bank Of Canada restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, June 24th. Finally, Barclays set a $102.00 target price on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.91.

Get Our Latest Report on CP

Canadian Pacific Kansas City Trading Down 2.2%

Canadian Pacific Kansas City stock opened at $91.64 on Tuesday. Canadian Pacific Kansas City Limited has a 12-month low of $68.42 and a 12-month high of $93.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.67 and a quick ratio of 0.57. The stock has a market capitalization of $81.10 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The firm has a 50 day simple moving average of $88.38 and a 200-day simple moving average of $82.95.

Canadian Pacific Kansas City (NYSE:CPGet Free Report) (TSE:CP) last announced its earnings results on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.02). The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.Canadian Pacific Kansas City’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. As a group, equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.68 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Friday, June 26th will be paid a $0.268 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 24.07%.

About Canadian Pacific Kansas City

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Canadian Pacific Kansas City (NYSE:CP)

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