Canadian Pacific Kansas City Limited (NYSE:CP) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 74,855 shares of the transportation company’s stock after acquiring an additional 1,012 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Canadian Pacific Kansas City were worth $6,600,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Canadian Pacific Kansas City by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 34,337,847 shares of the transportation company’s stock valued at $2,714,750,000 after purchasing an additional 585,049 shares during the period. TD Asset Management Inc raised its stake in Canadian Pacific Kansas City by 47.7% during the 4th quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock valued at $1,682,256,000 after purchasing an additional 6,835,271 shares during the period. Mackenzie Financial Corp raised its stake in Canadian Pacific Kansas City by 5.9% during the 4th quarter. Mackenzie Financial Corp now owns 14,178,436 shares of the transportation company’s stock valued at $1,122,370,000 after purchasing an additional 787,608 shares during the period. Veritas Asset Management LLP raised its stake in Canadian Pacific Kansas City by 1.8% during the 4th quarter. Veritas Asset Management LLP now owns 13,434,704 shares of the transportation company’s stock valued at $1,062,148,000 after purchasing an additional 243,210 shares during the period. Finally, Norges Bank acquired a new stake in Canadian Pacific Kansas City during the 4th quarter valued at $979,890,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

CP has been the topic of a number of research reports. Evercore dropped their price target on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Barclays upped their price target on shares of Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Jefferies Financial Group initiated coverage on shares of Canadian Pacific Kansas City in a research note on Monday, April 8th. They issued a “buy” rating and a $105.00 price target on the stock. Evercore ISI dropped their price target on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Bank of America lowered their target price on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.95.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP traded up $0.08 during mid-day trading on Friday, hitting $83.35. The company had a trading volume of 1,382,136 shares, compared to its average volume of 2,194,321. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.43. The business’s 50-day simple moving average is $79.43 and its 200-day simple moving average is $82.31. Canadian Pacific Kansas City Limited has a 12 month low of $68.92 and a 12 month high of $91.58. The firm has a market cap of $77.77 billion, a P/E ratio of 26.69, a PEG ratio of 2.26 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.59 billion. As a group, analysts predict that Canadian Pacific Kansas City Limited will post 3.16 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.141 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City’s dividend payout ratio is 17.95%.

About Canadian Pacific Kansas City

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.