Public Employees Retirement System of Ohio Buys New Stake in Canadian Pacific Kansas City Limited $CP

Public Employees Retirement System of Ohio bought a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 272,390 shares of the transportation company’s stock, valued at approximately $23,604,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC grew its stake in Canadian Pacific Kansas City by 16.0% during the 1st quarter. Intech Investment Management LLC now owns 21,276 shares of the transportation company’s stock worth $1,493,000 after buying an additional 2,940 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter worth about $35,000. Sivia Capital Partners LLC purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter worth about $206,000. Prudential Financial Inc. increased its holdings in shares of Canadian Pacific Kansas City by 8.7% during the second quarter. Prudential Financial Inc. now owns 5,183 shares of the transportation company’s stock valued at $411,000 after acquiring an additional 415 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Canadian Pacific Kansas City by 39.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,307 shares of the transportation company’s stock valued at $104,000 after acquiring an additional 369 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of NYSE CP opened at $94.04 on Friday. The business’s 50 day moving average price is $90.92 and its 200 day moving average price is $86.72. The firm has a market cap of $82.60 billion, a P/E ratio of 30.24, a P/E/G ratio of 1.84 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 52 week low of $68.42 and a 52 week high of $96.90. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.47.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the firm posted $1.12 EPS. Canadian Pacific Kansas City’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.72 earnings per share for the current year.

Canadian Pacific Kansas City Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently commented on CP. Wells Fargo & Company lifted their target price on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Wall Street Zen raised shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. Susquehanna lifted their price objective on shares of Canadian Pacific Kansas City from $104.00 to $106.00 and gave the stock a “positive” rating in a research note on Tuesday, July 14th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the company an “outperformer” rating in a report on Thursday, June 25th. Finally, Evercore set a $99.00 target price on Canadian Pacific Kansas City in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.60.

Canadian Pacific Kansas City Profile

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.