Allspring Global Investments Holdings LLC Acquires 128,537 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Allspring Global Investments Holdings LLC increased its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 16.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 901,150 shares of the transportation company’s stock after purchasing an additional 128,537 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Canadian Pacific Kansas City were worth $77,084,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. OLD National Bancorp IN increased its stake in shares of Canadian Pacific Kansas City by 3.9% in the third quarter. OLD National Bancorp IN now owns 7,878 shares of the transportation company’s stock worth $674,000 after purchasing an additional 293 shares in the last quarter. Cyndeo Wealth Partners LLC bought a new position in shares of Canadian Pacific Kansas City during the third quarter worth $204,000. Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in Canadian Pacific Kansas City by 3.0% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 91,704 shares of the transportation company’s stock valued at $7,844,000 after acquiring an additional 2,668 shares in the last quarter. Everett Harris & Co. CA increased its holdings in Canadian Pacific Kansas City by 3.8% in the 3rd quarter. Everett Harris & Co. CA now owns 79,697 shares of the transportation company’s stock valued at $6,817,000 after acquiring an additional 2,943 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in Canadian Pacific Kansas City by 0.8% in the 3rd quarter. Raymond James & Associates now owns 785,304 shares of the transportation company’s stock worth $67,175,000 after purchasing an additional 6,423 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CP. Susquehanna raised their price objective on Canadian Pacific Kansas City from $80.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Evercore ISI lifted 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. Jefferies Financial Group decreased their price objective on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Barclays raised 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. Finally, Scotiabank upgraded shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and an average price target of $97.90.

Canadian Pacific Kansas City Trading Down 1.6 %

NYSE CP opened at $78.77 on Tuesday. The stock has a market cap of $73.50 billion, a PE ratio of 25.25, a PEG ratio of 2.21 and a beta of 0.96. Canadian Pacific Kansas City Limited has a 12 month low of $68.92 and a 12 month high of $91.58. The company’s 50-day moving average price is $82.86 and its 200-day moving average price is $81.58. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.31. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the prior year, the firm earned $0.62 EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.2 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.1373 per share. The ex-dividend date is Friday, September 27th. This represents a $0.55 annualized dividend and a yield of 0.70%. Canadian Pacific Kansas City’s payout ratio is currently 17.31%.

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.