Voloridge Investment Management LLC Purchases 300,555 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Voloridge Investment Management LLC boosted its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 291.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 403,673 shares of the transportation company’s stock after purchasing an additional 300,555 shares during the period. Voloridge Investment Management LLC’s holdings in Canadian Pacific Kansas City were worth $29,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CP. Kestra Investment Management LLC bought a new position in shares of Canadian Pacific Kansas City during the 4th quarter worth $33,000. Stonebridge Financial Group LLC purchased a new stake in Canadian Pacific Kansas City during the fourth quarter valued at about $34,000. YANKCOM Partnership purchased a new stake in Canadian Pacific Kansas City during the fourth quarter valued at about $36,000. Millstone Evans Group LLC bought a new position in Canadian Pacific Kansas City during the fourth quarter worth about $36,000. Finally, Curio Wealth LLC purchased a new position in shares of Canadian Pacific Kansas City in the fourth quarter worth about $39,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $81.06 on Thursday. The stock has a market cap of $75.42 billion, a P/E ratio of 27.95, a PEG ratio of 2.00 and a beta of 1.09. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average price is $73.78 and its two-hundred day moving average price is $75.24. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $87.72.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, April 30th. The transportation company reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the firm posted $0.93 earnings per share. Canadian Pacific Kansas City’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be issued a $0.1644 dividend. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.81%. Canadian Pacific Kansas City’s dividend payout ratio is presently 21.28%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CP shares. Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, January 30th. Stephens boosted their target price on shares of Canadian Pacific Kansas City from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Barclays cut their price target on Canadian Pacific Kansas City from $91.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Susquehanna boosted their price objective on Canadian Pacific Kansas City from $88.00 to $90.00 and gave the company a “positive” rating in a research note on Thursday, May 1st. Finally, Scotiabank reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average target price of $90.63.

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.