Public Employees Retirement System of Ohio Purchases New Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Public Employees Retirement System of Ohio acquired a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 345,773 shares of the transportation company’s stock, valued at approximately $29,595,000.

Several other large investors have also recently bought and sold shares of CP. S&CO Inc. grew its holdings in shares of Canadian Pacific Kansas City by 183.3% in the 3rd quarter. S&CO Inc. now owns 17,000 shares of the transportation company’s stock valued at $1,454,000 after buying an additional 11,000 shares during the period. Swiss National Bank grew its stake in Canadian Pacific Kansas City by 0.8% in the third quarter. Swiss National Bank now owns 2,820,893 shares of the transportation company’s stock valued at $241,645,000 after acquiring an additional 23,000 shares during the period. Encompass Capital Advisors LLC bought a new stake in shares of Canadian Pacific Kansas City in the second quarter worth about $11,810,000. GSA Capital Partners LLP acquired a new stake in shares of Canadian Pacific Kansas City during the third quarter worth about $696,000. Finally, Raymond James & Associates lifted its holdings in shares of Canadian Pacific Kansas City by 1.5% during the 2nd 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. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CP. Stifel Nicolaus lowered their target price on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Evercore ISI raised their price objective on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Stephens cut their price objective on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. StockNews.com cut Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a report on Monday. Finally, Barclays boosted their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and an average target price of $94.88.

Canadian Pacific Kansas City Stock Up 0.4 %

CP stock opened at $75.58 on Tuesday. Canadian Pacific Kansas City Limited has a twelve month low of $72.22 and a twelve month high of $91.58. The company has a market cap of $70.54 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 2.24 and a beta of 0.96. 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 business has a 50 day moving average price of $78.10 and a two-hundred day moving average price of $80.00.

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 the consensus estimate of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the business posted $0.69 earnings per share. Canadian Pacific Kansas City’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that Canadian Pacific Kansas City Limited will post 3.05 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a dividend yield of 0.74%. Canadian Pacific Kansas City’s payout ratio is currently 20.00%.

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.