Van ECK Associates Corp Boosts Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Van ECK Associates Corp increased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 47.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 375,295 shares of the transportation company's stock after purchasing an additional 120,280 shares during the quarter. Van ECK Associates Corp's holdings in Canadian Pacific Kansas City were worth $29,373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinnacle Associates Ltd. boosted its stake in Canadian Pacific Kansas City by 0.4% in the third quarter. Pinnacle Associates Ltd. now owns 347,010 shares of the transportation company's stock valued at $27,435,000 after acquiring an additional 1,542 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in Canadian Pacific Kansas City by 23.2% in the third quarter. First Trust Direct Indexing L.P. now owns 13,571 shares of the transportation company's stock valued at $1,161,000 after acquiring an additional 2,552 shares during the last quarter. Milestones Administradora de Recursos Ltda. purchased a new position in Canadian Pacific Kansas City in the third quarter valued at about $5,068,000. Pathway Financial Advisers LLC boosted its stake in Canadian Pacific Kansas City by 8,456.8% in the third quarter. Pathway Financial Advisers LLC now owns 103,195 shares of the transportation company's stock valued at $8,827,000 after acquiring an additional 101,989 shares during the last quarter. Finally, Highview Capital Management LLC DE boosted its stake in Canadian Pacific Kansas City by 5.6% in the third quarter. Highview Capital Management LLC DE now owns 14,994 shares of the transportation company's stock valued at $1,284,000 after acquiring an additional 795 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Trading Up 1.6 %

Shares of Canadian Pacific Kansas City stock traded up $1.23 during trading on Tuesday, reaching $79.34. The company's stock had a trading volume of 1,935,323 shares, compared to its average volume of 2,111,521. Canadian Pacific Kansas City Limited has a 52-week low of $69.08 and a 52-week high of $91.58. The company has a market cap of $74.05 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 2.29 and a beta of 0.98. The firm's 50-day moving average is $82.44 and its two-hundred day moving average is $80.95. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). The firm had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The company's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 EPS. On average, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.05 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 annualized dividend and a yield of 0.71%. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. Canadian Pacific Kansas City's dividend payout ratio is presently 19.64%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Citigroup upped their price target on shares of Canadian Pacific Kansas City from $97.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Scotiabank upgraded shares of Canadian Pacific Kansas City from a "sector perform" rating to a "sector outperform" rating in a research note on Wednesday, July 10th. Stifel Nicolaus dropped their price target on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday, October 11th. Susquehanna upgraded shares of Canadian Pacific Kansas City from a "neutral" rating to a "positive" rating and dropped their price target for the company from $94.00 to $92.00 in a research note on Thursday, October 24th. Finally, Bank of America dropped their price target on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $94.15.

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.