Principal Financial Group Inc. Increases Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Principal Financial Group Inc. lifted its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 33.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,485,175 shares of the transportation company’s stock after purchasing an additional 628,800 shares during the quarter. Principal Financial Group Inc.’s holdings in Canadian Pacific Kansas City were worth $195,676,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. LRI Investments LLC bought a new stake in shares of Canadian Pacific Kansas City in the first quarter worth about $32,000. ORG Partners LLC bought a new stake in Canadian Pacific Kansas City during the second quarter worth approximately $39,000. Tobam bought a new stake in Canadian Pacific Kansas City during the first quarter worth approximately $51,000. Rational Advisors LLC bought a new stake in Canadian Pacific Kansas City during the first quarter worth approximately $52,000. Finally, Partnership Wealth Management LLC bought a new stake in Canadian Pacific Kansas City during the fourth quarter worth approximately $52,000. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Trading Up 0.8 %

Shares of NYSE CP traded up $0.67 during trading hours on Friday, reaching $82.98. The stock had a trading volume of 1,561,756 shares, compared to its average volume of 2,102,484. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42. The firm has a market cap of $77.43 billion, a price-to-earnings ratio of 26.58, a P/E/G ratio of 2.27 and a beta of 0.96. The business’s fifty day moving average price is $80.53 and its two-hundred day moving average price is $82.59. Canadian Pacific Kansas City Limited has a 52-week low of $68.92 and a 52-week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.31. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.58 billion. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. Canadian Pacific Kansas City’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. Analysts expect that Canadian Pacific Kansas City Limited will post 3.11 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.66%. Canadian Pacific Kansas City’s dividend payout ratio is currently 17.31%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Susquehanna reissued a “neutral” rating and set a $80.00 price objective on shares of Canadian Pacific Kansas City in a research note on Wednesday, July 31st. Wells Fargo & Company assumed coverage on Canadian Pacific Kansas City in a research note on Friday, June 7th. They set an “overweight” rating and a $90.00 price objective on the stock. Sanford C. Bernstein boosted their price objective on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Scotiabank raised Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus upped their target price on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.56.

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.