Port Capital LLC Purchases 7,610 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Port Capital LLC boosted its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 710,504 shares of the transportation company’s stock after buying an additional 7,610 shares during the quarter. Canadian Pacific Kansas City makes up about 2.7% of Port Capital LLC’s holdings, making the stock its 16th biggest position. Port Capital LLC owned about 0.08% of Canadian Pacific Kansas City worth $60,841,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can raised its stake in Canadian Pacific Kansas City by 2.8% during the 2nd quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock valued at $1,580,556,000 after purchasing an additional 533,792 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Canadian Pacific Kansas City by 5.5% during the second quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock worth $1,088,155,000 after buying an additional 723,188 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Canadian Pacific Kansas City by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock worth $909,721,000 after purchasing an additional 216,062 shares in the last quarter. Fiera Capital Corp raised its stake in shares of Canadian Pacific Kansas City by 1.9% in the third quarter. Fiera Capital Corp now owns 5,814,277 shares of the transportation company’s stock worth $497,918,000 after acquiring an additional 107,183 shares during the last quarter. Finally, Cantillon Capital Management LLC lifted its stake in shares of Canadian Pacific Kansas City by 9.1% during the third quarter. Cantillon Capital Management LLC now owns 3,705,152 shares of the transportation company’s stock valued at $316,939,000 after acquiring an additional 310,588 shares during the period. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

CP has been the subject of a number of analyst reports. Benchmark reaffirmed a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 24th. Barclays upped their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Bank of America decreased their target price on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus dropped their price target on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Finally, Sanford C. Bernstein decreased their price objective on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $94.88.

Canadian Pacific Kansas City Price Performance

NYSE:CP opened at $75.60 on Wednesday. Canadian Pacific Kansas City Limited has a 52-week low of $72.22 and a 52-week high of $91.58. The company has a market cap of $70.56 billion, a P/E ratio of 27.00, a P/E/G ratio of 2.26 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. The stock’s 50-day simple moving average is $78.86 and its 200 day simple moving average is $80.14.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company earned $0.69 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that Canadian Pacific Kansas City Limited will post 3.06 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 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 19.64%.

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.