Allspring Global Investments Holdings LLC Raises Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Allspring Global Investments Holdings LLC lifted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 30.9% in the second quarter, Holdings Channel reports. The fund owned 772,613 shares of the transportation company’s stock after purchasing an additional 182,202 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Canadian Pacific Kansas City were worth $60,828,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. LRI Investments LLC purchased a new stake in shares of Canadian Pacific Kansas City in the first quarter worth approximately $32,000. ORG Partners LLC purchased a new stake in Canadian Pacific Kansas City in the second quarter worth $39,000. Tobam bought a new stake in shares of Canadian Pacific Kansas City during the first quarter worth $51,000. Rational Advisors LLC purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter valued at $52,000. Finally, Partnership Wealth Management LLC bought a new position in shares of Canadian Pacific Kansas City in the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Performance

CP opened at $83.18 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42. 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 50 day moving average of $80.25 and a two-hundred day moving average of $82.61. The firm has a market capitalization of $77.61 billion, a PE ratio of 26.66, a P/E/G ratio of 2.27 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 earnings per share. On average, analysts anticipate that Canadian Pacific Kansas City Limited will post 3.11 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be paid a $0.1373 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.66%. Canadian Pacific Kansas City’s payout ratio is 17.31%.

Analyst Upgrades and Downgrades

CP has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price objective on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company started coverage on Canadian Pacific Kansas City in a report on Friday, June 7th. They issued an “overweight” rating and a $90.00 price target for the company. Scotiabank raised Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Sanford C. Bernstein lifted their target price on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a “market perform” rating in a research report on Monday, July 8th. Finally, Susquehanna reissued a “neutral” rating and set a $80.00 price target on shares of Canadian Pacific Kansas City in a research report on Wednesday, July 31st. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.56.

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.