Maryland State Retirement & Pension System Has $4.10 Million Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Maryland State Retirement & Pension System boosted its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 53.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,072 shares of the transportation company’s stock after purchasing an additional 16,995 shares during the period. Maryland State Retirement & Pension System’s holdings in Canadian Pacific Kansas City were worth $4,100,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Canadian Pacific Kansas City by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 34,337,847 shares of the transportation company’s stock valued at $2,714,750,000 after buying an additional 585,049 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Canadian Pacific Kansas City by 47.7% during the 4th quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company’s stock valued at $1,682,256,000 after purchasing an additional 6,835,271 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Canadian Pacific Kansas City by 5.9% during the 4th quarter. Mackenzie Financial Corp now owns 14,178,436 shares of the transportation company’s stock valued at $1,122,370,000 after purchasing an additional 787,608 shares in the last quarter. Veritas Asset Management LLP boosted its holdings in Canadian Pacific Kansas City by 1.8% in the fourth quarter. Veritas Asset Management LLP now owns 13,434,704 shares of the transportation company’s stock worth $1,062,148,000 after acquiring an additional 243,210 shares in the last quarter. Finally, Norges Bank bought a new position in Canadian Pacific Kansas City in the fourth quarter worth approximately $979,890,000. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CP. Barclays increased their price target on Canadian Pacific Kansas City from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Susquehanna reiterated a “neutral” rating and issued a $80.00 price target on shares of Canadian Pacific Kansas City in a report on Tuesday, June 25th. Bank of America cut their price target on Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus cut their price target on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Thursday, April 25th. Finally, Raymond James increased their price objective on Canadian Pacific Kansas City from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $96.32.

Canadian Pacific Kansas City Stock Performance

NYSE:CP traded down $0.51 during trading hours on Friday, reaching $80.20. The stock had a trading volume of 306,687 shares, compared to its average volume of 2,188,432. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.43 and a current ratio of 0.49. The stock has a 50 day simple moving average of $79.33 and a 200 day simple moving average of $82.22. Canadian Pacific Kansas City Limited has a 12-month low of $68.92 and a 12-month high of $91.58. The stock has a market cap of $74.82 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, April 24th. The transportation company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. On average, research analysts forecast that Canadian Pacific Kansas City Limited will post 3.15 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be issued a $0.141 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Pacific Kansas City’s payout ratio is currently 17.63%.

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.