Barometer Capital Management Inc. Invests $9.05 Million in Canadian Pacific Kansas City Limited $CP

Barometer Capital Management Inc. acquired a new position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the first quarter, Holdings Channel reports. The fund acquired 115,000 shares of the transportation company’s stock, valued at approximately $9,046,000. Canadian Pacific Kansas City comprises 3.7% of Barometer Capital Management Inc.’s investment portfolio, making the stock its 5th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at about $978,558,000. Janus Henderson Group PLC increased its holdings in shares of Canadian Pacific Kansas City by 586.1% in the 4th quarter. Janus Henderson Group PLC now owns 6,147,835 shares of the transportation company’s stock valued at $452,781,000 after purchasing an additional 5,251,755 shares in the last quarter. FIL Ltd boosted its stake in shares of Canadian Pacific Kansas City by 20.2% during the 4th quarter. FIL Ltd now owns 16,666,777 shares of the transportation company’s stock worth $1,227,045,000 after acquiring an additional 2,804,686 shares in the last quarter. Bessemer Group Inc. grew its holdings in Canadian Pacific Kansas City by 5,826.3% in the first quarter. Bessemer Group Inc. now owns 2,545,049 shares of the transportation company’s stock valued at $199,605,000 after purchasing an additional 2,502,104 shares during the last quarter. Finally, Canoe Financial LP increased its holdings in Canadian Pacific Kansas City by 45,389.7% during the 1st quarter. Canoe Financial LP now owns 2,032,478 shares of the transportation company’s stock valued at $159,885,000 after acquiring an additional 2,028,010 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Trading Down 0.4%

NYSE CP opened at $91.25 on Wednesday. The company has a market capitalization of $80.76 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. Canadian Pacific Kansas City Limited has a 12 month low of $68.42 and a 12 month high of $93.95. The company’s fifty day moving average price is $88.49 and its two-hundred day moving average price is $83.07. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.67 and a quick ratio of 0.57.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm earned $1.06 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, research analysts predict that Canadian Pacific Kansas City Limited will post 3.69 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Friday, June 26th will be issued a $0.268 dividend. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.07 annualized dividend and a dividend yield of 1.2%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 24.07%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. National Bank Financial upgraded Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Wall Street Zen lowered Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Saturday. Argus set a $105.00 price target on Canadian Pacific Kansas City in a research report on Tuesday, June 16th. Weiss Ratings raised shares of Canadian Pacific Kansas City from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company upped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and a consensus target price of $104.91.

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.