Mufg Securities Canada LTD. Buys 597,144 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Mufg Securities Canada LTD. boosted its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 72.1% in the fourth quarter, Holdings Channel reports. The fund owned 1,425,248 shares of the transportation company’s stock after purchasing an additional 597,144 shares during the period. Canadian Pacific Kansas City accounts for about 3.7% of Mufg Securities Canada LTD.’s portfolio, making the stock its 9th biggest position. Mufg Securities Canada LTD.’s holdings in Canadian Pacific Kansas City were worth $103,128,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CP. Allspring Global Investments Holdings LLC raised its holdings in Canadian Pacific Kansas City by 281.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company’s stock worth $252,912,000 after purchasing an additional 2,532,519 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Canadian Pacific Kansas City by 84.4% during the 3rd quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company’s stock worth $251,778,000 after buying an additional 1,348,474 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Canadian Pacific Kansas City in the 4th quarter valued at approximately $74,168,000. M.D. Sass LLC purchased a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at approximately $61,076,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Canadian Pacific Kansas City by 36.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,869,584 shares of the transportation company’s stock worth $245,403,000 after acquiring an additional 769,202 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CP. Loop Capital downgraded Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a report on Monday, February 3rd. 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. Susquehanna decreased their price objective on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company dropped their target price on shares of 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. Finally, Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Canadian Pacific Kansas City currently has an average rating of “Moderate Buy” and an average price target of $95.45.

Canadian Pacific Kansas City Stock Down 1.2 %

Shares of NYSE CP opened at $72.38 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $67.58 billion, a PE ratio of 24.96, a P/E/G ratio of 2.00 and a beta of 0.98. The firm has a fifty day moving average of $76.64 and a 200-day moving average of $77.71. Canadian Pacific Kansas City Limited has a 52-week low of $70.89 and a 52-week high of $89.26.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.66 by $0.26. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. On average, analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a $0.1318 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 0.73%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 17.93%.

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.