Oppenheimer Asset Management Inc. Boosts Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Oppenheimer Asset Management Inc. raised its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,176 shares of the transportation company’s stock after acquiring an additional 2,792 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Canadian Pacific Kansas City were worth $7,200,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CP. Encompass Capital Advisors LLC purchased a new stake in Canadian Pacific Kansas City in the second quarter valued at approximately $11,810,000. Cetera Investment Advisers lifted its holdings in shares of Canadian Pacific Kansas City by 272.0% during the 1st quarter. Cetera Investment Advisers now owns 55,226 shares of the transportation company’s stock worth $4,874,000 after acquiring an additional 40,380 shares during the last quarter. Magnetar Financial LLC bought a new position in Canadian Pacific Kansas City in the first quarter valued at $2,629,000. Raymond James & Associates raised its position in Canadian Pacific Kansas City by 1.5% during the second quarter. Raymond James & Associates now owns 778,881 shares of the transportation company’s stock valued at $61,321,000 after purchasing an additional 11,416 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Canadian Pacific Kansas City by 398.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock worth $165,419,000 after purchasing an additional 1,678,784 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Down 0.2 %

NYSE CP opened at $75.87 on Friday. The stock’s 50 day moving average is $81.77 and its 200 day moving average is $80.70. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $70.81 billion, a PE ratio of 27.10, a P/E/G ratio of 2.28 and a beta of 0.98. Canadian Pacific Kansas City Limited has a twelve month low of $69.27 and a twelve month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results 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). The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. Research analysts forecast that Canadian Pacific Kansas City Limited will post 3.06 earnings per share 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 issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, December 27th. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio is 19.64%.

Wall Street Analyst Weigh In

CP has been the subject of a number of recent research reports. Bank of America dropped their target price on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Barclays boosted their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Citigroup decreased their price objective on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a report on Tuesday. Susquehanna upgraded Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and reduced their price target for the stock from $94.00 to $92.00 in a research report on Thursday, October 24th. Finally, Evercore ISI increased their price objective on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Pacific Kansas City has an average rating of “Moderate Buy” and an average target price of $93.68.

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.