Principal Financial Group Inc. Purchases 257,200 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Principal Financial Group Inc. lifted its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,742,375 shares of the transportation company's stock after buying an additional 257,200 shares during the period. Principal Financial Group Inc. owned approximately 0.29% of Canadian Pacific Kansas City worth $234,806,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Norden Group LLC purchased a new position in Canadian Pacific Kansas City in the first quarter valued at about $306,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Canadian Pacific Kansas City by 1.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 74,855 shares of the transportation company's stock worth $6,600,000 after acquiring an additional 1,012 shares during the period. Oppenheimer Asset Management Inc. grew its position in Canadian Pacific Kansas City by 16.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 71,167 shares of the transportation company's stock valued at $6,275,000 after acquiring an additional 10,234 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter valued at approximately $9,417,000. Finally, Pecaut & CO. lifted its position in shares of Canadian Pacific Kansas City by 14.8% during the first quarter. Pecaut & CO. now owns 47,136 shares of the transportation company's stock worth $4,156,000 after purchasing an additional 6,086 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of CP stock traded down $1.34 during mid-day trading on Friday, reaching $77.47. The company's stock had a trading volume of 1,473,794 shares, compared to its average volume of 2,133,160. The firm's 50-day moving average is $82.36 and its two-hundred day moving average is $80.94. The company has a market cap of $72.31 billion, a P/E ratio of 28.14, a PEG ratio of 2.32 and a beta of 0.98. Canadian Pacific Kansas City Limited has a 1-year low of $69.08 and a 1-year high of $91.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.02). The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The firm's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.69 earnings per share. On average, research analysts predict that Canadian Pacific Kansas City Limited will post 3.06 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. Stockholders of record on Friday, December 27th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. The ex-dividend date is Friday, December 27th. Canadian Pacific Kansas City's payout ratio is 19.64%.

Analysts Set New Price Targets

CP has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an "overweight" rating in a research report on Wednesday, September 25th. Stifel Nicolaus decreased their price target on shares of Canadian Pacific Kansas City from $83.00 to $82.00 and set a "hold" rating for the company in a report on Friday, October 11th. Sanford C. Bernstein cut their target price on Canadian Pacific Kansas City from $91.98 to $91.25 and set a "market perform" rating on the stock in a research note on Wednesday, October 9th. Susquehanna raised shares of Canadian Pacific Kansas City from a "neutral" rating to a "positive" rating and reduced their target price for the company from $94.00 to $92.00 in a research note on Thursday, October 24th. Finally, Benchmark restated a "hold" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Canadian Pacific Kansas City currently has an average rating of "Moderate Buy" and an average target price of $94.15.

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.