Wahed Invest LLC Raises Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Wahed Invest LLC raised its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 12.8% in the third quarter, Holdings Channel reports. The fund owned 12,438 shares of the transportation company’s stock after buying an additional 1,413 shares during the period. Wahed Invest LLC’s holdings in Canadian Pacific Kansas City were worth $1,064,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CP. Grove Bank & Trust raised its holdings in Canadian Pacific Kansas City by 56.0% during the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after purchasing an additional 130 shares in the last quarter. Addison Advisors LLC raised its holdings in Canadian Pacific Kansas City by 246.9% during the third quarter. Addison Advisors LLC now owns 392 shares of the transportation company’s stock worth $34,000 after purchasing an additional 279 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Canadian Pacific Kansas City during the third quarter worth approximately $34,000. Chris Bulman Inc acquired a new position in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $35,000. Finally, Asset Dedication LLC acquired a new position in shares of Canadian Pacific Kansas City in the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CP. Barclays lifted their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Bank of America dropped their price objective on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Evercore ISI boosted their price objective on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Citigroup dropped their price objective on shares of Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Susquehanna raised shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and dropped their price objective for the company from $94.00 to $92.00 in a research note on Thursday, October 24th. Seven equities 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 a consensus rating of “Moderate Buy” and a consensus price target of $94.88.

Canadian Pacific Kansas City Stock Up 0.0 %

NYSE CP opened at $76.36 on Friday. The stock has a market cap of $71.27 billion, a PE ratio of 27.27, a P/E/G ratio of 2.24 and a beta of 0.96. Canadian Pacific Kansas City Limited has a fifty-two week low of $72.22 and a fifty-two week high of $91.58. The business has a 50 day moving average price of $78.50 and a two-hundred day moving average price of $80.09. 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 released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 EPS. As a group, sell-side analysts predict that Canadian Pacific Kansas City Limited will post 3.06 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced 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. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio is 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.