Fisher Asset Management LLC Acquires 126,602 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Fisher Asset Management LLC boosted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,353,769 shares of the transportation company’s stock after buying an additional 126,602 shares during the quarter. Fisher Asset Management LLC owned 0.15% of Canadian Pacific Kansas City worth $115,801,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CP. Mirova US LLC purchased a new position in shares of Canadian Pacific Kansas City during the second quarter valued at approximately $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Canadian Pacific Kansas City by 398.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock valued at $165,419,000 after buying an additional 1,678,784 shares during the last quarter. Wulff Hansen & CO. lifted its holdings in shares of Canadian Pacific Kansas City by 8,261.4% during the 2nd quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company’s stock valued at $74,282,000 after buying an additional 932,216 shares during the period. AGF Management Ltd. lifted its holdings in shares of Canadian Pacific Kansas City by 86.5% during the 2nd quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company’s stock valued at $125,094,000 after buying an additional 735,816 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in shares of Canadian Pacific Kansas City by 5.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock worth $1,088,155,000 after buying an additional 723,188 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

CP stock opened at $77.02 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. The company has a market capitalization of $71.89 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 2.27 and a beta of 0.98. The company’s fifty day moving average price is $80.14 and its 200-day moving average price is $80.41. Canadian Pacific Kansas City Limited has a one year low of $69.27 and a one year high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.06 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, December 27th. This represents a $0.56 annualized dividend and a yield of 0.73%. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 19.64%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CP shares. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Sanford C. Bernstein lowered their price objective on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Bank of America dropped their price objective on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Evercore ISI increased their price target on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Finally, Stifel Nicolaus cut their price objective on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, October 11th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and a consensus target price of $93.68.

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.