12,636,325 Shares in Canadian Pacific Kansas City Limited (NYSE:CP) Purchased by Norges Bank

Norges Bank purchased a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,636,325 shares of the transportation company’s stock, valued at approximately $914,090,000. Norges Bank owned approximately 1.35% of Canadian Pacific Kansas City as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pragma Gestao DE Patrimonio Ltd. raised its stake in shares of Canadian Pacific Kansas City by 166.7% in the fourth quarter. Pragma Gestao DE Patrimonio Ltd. now owns 80,000 shares of the transportation company’s stock valued at $5,790,000 after purchasing an additional 50,000 shares in the last quarter. NEOS Investment Management LLC increased its holdings in Canadian Pacific Kansas City by 80.1% in the 4th quarter. NEOS Investment Management LLC now owns 6,911 shares of the transportation company’s stock valued at $500,000 after buying an additional 3,074 shares during the period. UniSuper Management Pty Ltd increased its holdings in Canadian Pacific Kansas City by 65.9% in the 4th quarter. UniSuper Management Pty Ltd now owns 713,407 shares of the transportation company’s stock valued at $51,629,000 after buying an additional 283,506 shares during the period. Mendel Money Management acquired a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at $411,000. Finally, Financial Counselors Inc. lifted its holdings in shares of Canadian Pacific Kansas City by 15.4% during the 4th quarter. Financial Counselors Inc. now owns 185,670 shares of the transportation company’s stock worth $13,437,000 after acquiring an additional 24,792 shares during the period. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Down 2.3 %

Shares of NYSE CP opened at $71.59 on Friday. Canadian Pacific Kansas City Limited has a 1-year low of $70.89 and a 1-year high of $89.26. The company has a 50-day moving average of $76.56 and a two-hundred day moving average of $77.64. The company has a market cap of $66.84 billion, a PE ratio of 24.68, a P/E/G ratio of 2.00 and a beta of 0.98. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, January 29th. The transportation company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.26. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. As a group, equities analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.1318 per share. This represents a $0.53 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Friday, March 28th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.93%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CP shares. StockNews.com cut shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Wednesday, December 25th. Wells Fargo & Company dropped their target price on Canadian Pacific Kansas City from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Stephens raised their target price on Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their price target on Canadian Pacific Kansas City from $124.00 to $128.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Loop Capital cut Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

Canadian Pacific Kansas City Company 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.