Norges Bank Invests $978.56 Million in Canadian Pacific Kansas City Limited $CP

Norges Bank bought a new position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) during the fourth quarter, HoldingsChannel.com reports. The fund bought 13,290,852 shares of the transportation company’s stock, valued at approximately $978,558,000.

A number of other institutional investors have also recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth $10,097,000. Hillsdale Investment Management Inc. grew its stake in shares of Canadian Pacific Kansas City by 21.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 154,946 shares of the transportation company’s stock worth $11,428,000 after acquiring an additional 27,060 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Canadian Pacific Kansas City by 17.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 65,126 shares of the transportation company’s stock worth $4,795,000 after acquiring an additional 9,830 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Canadian Pacific Kansas City by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 8,821,358 shares of the transportation company’s stock worth $661,339,000 after acquiring an additional 461,724 shares during the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of Canadian Pacific Kansas City by 5.6% during the fourth quarter. King Luther Capital Management Corp now owns 13,455 shares of the transportation company’s stock valued at $991,000 after acquiring an additional 710 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Trading Down 1.5%

Shares of CP stock opened at $89.26 on Friday. Canadian Pacific Kansas City Limited has a 12-month low of $68.42 and a 12-month high of $91.46. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $83.32 and its 200 day moving average is $78.84. The stock has a market capitalization of $79.24 billion, a P/E ratio of 27.55, a P/E/G ratio of 1.91 and a beta of 1.09.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the business posted $1.06 EPS. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts expect that Canadian Pacific Kansas City Limited will post 3.76 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be issued a $0.268 dividend. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. This represents a $1.07 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, June 26th. Canadian Pacific Kansas City’s dividend payout ratio is 20.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. ATB Cormark Capital Markets downgraded shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, April 17th. Barclays set a $99.00 price target on shares of Canadian Pacific Kansas City and gave the company an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada reduced their price target on shares of Canadian Pacific Kansas City from $128.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Sanford C. Bernstein raised their price target on shares of Canadian Pacific Kansas City from $85.41 to $90.00 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. Finally, Citigroup raised their price target on shares of Canadian Pacific Kansas City from $93.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.89.

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.