Vestcor Inc Buys Shares of 18,600 Canadian Pacific Kansas City Limited (NYSE:CP)

Vestcor Inc acquired a new position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,600 shares of the transportation company’s stock, valued at approximately $1,306,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thornburg Investment Management Inc. increased its position in Canadian Pacific Kansas City by 13.3% in the first quarter. Thornburg Investment Management Inc. now owns 1,557,543 shares of the transportation company’s stock worth $109,355,000 after buying an additional 182,275 shares in the last quarter. XTX Topco Ltd increased its holdings in Canadian Pacific Kansas City by 239.4% in the 1st quarter. XTX Topco Ltd now owns 58,407 shares of the transportation company’s stock worth $4,101,000 after acquiring an additional 41,197 shares in the last quarter. S&CO Inc. raised its stake in Canadian Pacific Kansas City by 10.8% during the 1st quarter. S&CO Inc. now owns 20,600 shares of the transportation company’s stock worth $1,446,000 after acquiring an additional 2,000 shares during the period. Kirtland Hills Capital Management LLC boosted its position in shares of Canadian Pacific Kansas City by 7.8% in the first quarter. Kirtland Hills Capital Management LLC now owns 7,090 shares of the transportation company’s stock worth $528,000 after purchasing an additional 512 shares during the period. Finally, Ramirez Asset Management Inc. increased its stake in shares of Canadian Pacific Kansas City by 43.3% in the first quarter. Ramirez Asset Management Inc. now owns 41,241 shares of the transportation company’s stock worth $2,896,000 after purchasing an additional 12,463 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE:CP opened at $72.89 on Friday. The firm has a fifty day simple moving average of $79.74 and a two-hundred day simple moving average of $76.92. 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 stock has a market capitalization of $66.91 billion, a P/E ratio of 22.71, a PEG ratio of 2.06 and a beta of 1.06.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released 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. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.56 billion. Canadian Pacific Kansas City had a return on equity of 8.68% and a net margin of 28.05%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $0.93 earnings per share. On average, analysts expect 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. Investors of record on Friday, September 26th will be given a $0.1651 dividend. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 26th. Canadian Pacific Kansas City’s dividend payout ratio is 20.56%.

Analyst Ratings Changes

CP has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $91.00 target price on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. Evercore ISI lowered their price objective on Canadian Pacific Kansas City from $89.00 to $88.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus dropped their price objective on 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. Scotiabank reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Finally, Stephens upped their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and an average price target 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.