Van ECK Associates Corp Raises Stake in Canadian Pacific Kansas City Limited $CP

Van ECK Associates Corp raised its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 387,458 shares of the transportation company’s stock after acquiring an additional 25,216 shares during the period. Van ECK Associates Corp’s holdings in Canadian Pacific Kansas City were worth $33,572,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Fiduciary Financial Advisors purchased a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $25,000. Prosperity Bancshares Inc purchased a new position in Canadian Pacific Kansas City in the 4th quarter worth $26,000. Gilpin Wealth Management LLC purchased a new position in Canadian Pacific Kansas City in the 4th quarter worth $29,000. McMillan Office Inc. bought a new stake in Canadian Pacific Kansas City in the fourth quarter worth $31,000. Finally, Acadian Asset Management LLC bought a new stake in Canadian Pacific Kansas City in the first quarter worth $35,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Down 0.1%

Shares of NYSE CP opened at $94.04 on Monday. The firm’s fifty day moving average is $90.92 and its 200 day moving average is $86.76. 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. The company has a market cap of $82.60 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 1.83 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 EPS. On average, equities research 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be paid 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 is 25.08%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citizens Jmp started coverage on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. Wells Fargo & Company lifted their price objective on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Wall Street Zen raised Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Susquehanna increased their target price on Canadian Pacific Kansas City from $104.00 to $106.00 and gave the company a “positive” rating in a report on Tuesday, July 14th. Finally, Evercore set a $99.00 price target on Canadian Pacific Kansas City in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.60.

Canadian Pacific Kansas City Company 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.