Conway Capital Management Inc. Takes Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Conway Capital Management Inc. purchased a new position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the third quarter, HoldingsChannel reports. The fund purchased 15,358 shares of the transportation company’s stock, valued at approximately $1,314,000. Canadian Pacific Kansas City makes up approximately 0.6% of Conway Capital Management Inc.’s portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can raised its position in shares of Canadian Pacific Kansas City by 2.8% in the 2nd quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock worth $1,580,556,000 after acquiring an additional 533,792 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Canadian Pacific Kansas City by 5.5% in 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 purchasing an additional 723,188 shares during the period. The Manufacturers Life Insurance Company raised its holdings 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 lifted its position in Canadian Pacific Kansas City by 1.9% during the third quarter. Fiera Capital Corp now owns 5,814,277 shares of the transportation company’s stock valued at $497,918,000 after buying an additional 107,183 shares during the period. Finally, Cantillon Capital Management LLC boosted its holdings in shares of Canadian Pacific Kansas City by 9.1% during the 3rd quarter. Cantillon Capital Management LLC now owns 3,705,152 shares of the transportation company’s stock valued at $316,939,000 after buying an additional 310,588 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CP shares. Barclays lifted their price target 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. Susquehanna raised Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and reduced their price objective for the company from $94.00 to $92.00 in a research report on Thursday, October 24th. Sanford C. Bernstein dropped their target price on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. Stifel Nicolaus reduced their price target on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a report on Friday, October 11th. Finally, Citigroup lowered their price target on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.88.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP opened at $75.58 on Tuesday. The firm’s 50-day moving average price is $78.10 and its 200-day moving average price is $80.00. 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 $70.54 billion, a PE ratio of 26.99, a PEG 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.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.02). The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 EPS. As a group, analysts anticipate that Canadian Pacific Kansas City Limited will post 3.05 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

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

Canadian Pacific Kansas City Profile

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.