Manhattan West Asset Management LLC Makes New Investment in Canadian Pacific Kansas City Limited $CP

Manhattan West Asset Management LLC bought a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the 2nd quarter, HoldingsChannel reports. The firm bought 42,443 shares of the transportation company’s stock, valued at approximately $3,678,000.

Other large investors also recently made changes to their positions in the company. HighTower Advisors LLC increased its stake in shares of Canadian Pacific Kansas City by 6.2% in the fourth quarter. HighTower Advisors LLC now owns 630,624 shares of the transportation company’s stock worth $46,434,000 after acquiring an additional 37,044 shares during the last quarter. Jennison Associates LLC acquired a new stake in Canadian Pacific Kansas City during the fourth quarter valued at $1,983,000. Saranac Partners Ltd purchased a new position in Canadian Pacific Kansas City in the fourth quarter valued at about $5,973,000. Rathbones Group PLC grew its stake in Canadian Pacific Kansas City by 5.9% in the fourth quarter. Rathbones Group PLC now owns 1,729,339 shares of the transportation company’s stock valued at $127,342,000 after purchasing an additional 95,727 shares in the last quarter. Finally, WGI DM LLC increased its position in Canadian Pacific Kansas City by 3.9% in the 4th quarter. WGI DM LLC now owns 437,824 shares of the transportation company’s stock worth $32,237,000 after purchasing an additional 16,282 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce raised their price target on Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 25th. Citizens Jmp began coverage on Canadian Pacific Kansas City in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Susquehanna raised their price objective on shares of Canadian Pacific Kansas City from $104.00 to $106.00 and gave the company a “positive” rating in a research report on Tuesday, July 14th. Citigroup lifted their target price on shares of Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Stephens raised shares of Canadian Pacific Kansas City to a “hold” rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and an average price target of $108.60.

Canadian Pacific Kansas City Stock Up 2.1%

CP opened at $96.81 on Friday. The firm has a market cap of $85.04 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59. The business has a 50 day moving average price of $90.21 and a 200 day moving average price of $86.16. Canadian Pacific Kansas City Limited has a twelve month low of $68.42 and a twelve month high of $96.90.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Canadian Pacific Kansas City had a return on equity of 9.02% and a net margin of 25.02%.The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Research analysts forecast that Canadian Pacific Kansas City Limited will post 3.7 EPS for the current year.

Canadian Pacific Kansas City Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be paid a $0.268 dividend. The ex-dividend date is Friday, September 25th. This represents a $1.07 dividend on an annualized basis and a yield of 1.1%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 25.08%.

About Canadian Pacific Kansas City

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.