Canadian Pacific Kansas City Limited (NYSE:CP) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 12.0% during the third quarter, Holdings Channel reports. The institutional investor owned 26,624 shares of the transportation company’s stock after buying an additional 2,862 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Canadian Pacific Kansas City were worth $2,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Choate Investment Advisors raised its stake in shares of Canadian Pacific Kansas City by 24.2% in the 1st quarter. Choate Investment Advisors now owns 72,010 shares of the transportation company’s stock worth $6,349,000 after buying an additional 14,037 shares in the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter worth $11,810,000. Cetera Investment Advisers raised its stake in shares of Canadian Pacific Kansas City by 272.0% in the 1st quarter. Cetera Investment Advisers now owns 55,226 shares of the transportation company’s stock worth $4,874,000 after buying an additional 40,380 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Canadian Pacific Kansas City by 16.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 71,167 shares of the transportation company’s stock worth $6,275,000 after buying an additional 10,234 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in shares of Canadian Pacific Kansas City in the 1st quarter worth $2,629,000. Institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CP shares. Evercore ISI boosted their price objective on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Barclays boosted their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Sanford C. Bernstein cut 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 research report on Wednesday, October 9th. Susquehanna raised Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and cut their target price for the stock from $94.00 to $92.00 in a research report on Thursday, October 24th. Finally, Citigroup boosted their target price on Canadian Pacific Kansas City from $97.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.15.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP opened at $77.16 on Friday. The business’s 50-day moving average price is $82.70 and its two-hundred day moving average price is $81.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44. Canadian Pacific Kansas City Limited has a one year low of $69.08 and a one year high of $91.58. The company has a market capitalization of $72.02 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the firm earned $0.69 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts anticipate that Canadian Pacific Kansas City Limited will post 3.2 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a yield of 0.73%. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s payout ratio is 20.00%.

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.