Van ECK Associates Corp Buys 136,805 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Van ECK Associates Corp lifted its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 119.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 251,465 shares of the transportation company’s stock after acquiring an additional 136,805 shares during the quarter. Van ECK Associates Corp’s holdings in Canadian Pacific Kansas City were worth $19,837,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sands Capital Management LLC bought a new stake in shares of Canadian Pacific Kansas City during the third quarter worth $31,000. Anchor Investment Management LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 4th quarter worth $40,000. Independence Bank of Kentucky purchased a new position in Canadian Pacific Kansas City during the 4th quarter valued at about $43,000. McGlone Suttner Wealth Management Inc. bought a new position in Canadian Pacific Kansas City in the fourth quarter worth approximately $45,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Canadian Pacific Kansas City in the 4th quarter worth $70,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE:CP opened at $77.57 on Thursday. The business’s 50 day moving average price is $86.66 and its 200-day moving average price is $79.99. Canadian Pacific Kansas City Limited has a 1 year low of $68.92 and a 1 year high of $91.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.43. The firm has a market capitalization of $72.34 billion, a PE ratio of 24.86, a P/E/G ratio of 2.29 and a beta of 0.94.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.48% and a net margin of 28.27%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. As a group, equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.15 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.141 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Friday, June 28th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 17.63%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CP. StockNews.com raised Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. TD Securities downgraded shares of Canadian Pacific Kansas City from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Stifel Nicolaus lowered their target price on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Evercore cut their price target on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Raymond James upped their target price on Canadian Pacific Kansas City from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.42.

About Canadian Pacific Kansas City

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.