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

Principal Financial Group Inc. increased its stake 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 2,742,375 shares of the transportation company's stock after purchasing 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.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in shares of Canadian Pacific Kansas City by 2.8% during the second quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company's stock worth $1,580,556,000 after purchasing an additional 533,792 shares in the last quarter. 1832 Asset Management L.P. raised its stake in Canadian Pacific Kansas City by 5.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company's stock worth $1,088,155,000 after buying an additional 723,188 shares during the period. The Manufacturers Life Insurance Company grew its stake in Canadian Pacific Kansas City by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company's stock valued at $909,721,000 after acquiring an additional 216,062 shares during the period. Franklin Resources Inc. increased its holdings in shares of Canadian Pacific Kansas City by 9.7% in the third quarter. Franklin Resources Inc. now owns 6,096,341 shares of the transportation company's stock worth $501,219,000 after acquiring an additional 537,418 shares in the last quarter. Finally, Fiera Capital Corp increased its holdings in shares of Canadian Pacific Kansas City by 1.9% in the third quarter. Fiera Capital Corp now owns 5,814,277 shares of the transportation company's stock worth $497,918,000 after acquiring an additional 107,183 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CP. Barclays boosted their price objective on 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. Citigroup reduced their price target on shares of Canadian Pacific Kansas City from $98.00 to $91.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. Benchmark restated a "hold" rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. StockNews.com raised shares of Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, Bank of America dropped their price target on 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. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.88.

Canadian Pacific Kansas City Stock Up 1.6 %

Shares of NYSE CP traded up $1.16 during trading hours on Friday, hitting $72.26. The company had a trading volume of 3,292,093 shares, compared to its average volume of 2,311,290. The stock has a market capitalization of $67.45 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. Canadian Pacific Kansas City Limited has a 1-year low of $70.89 and a 1-year high of $91.58. The firm's 50 day moving average is $76.65 and its 200-day moving average is $79.70. 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 data 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 firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The business's revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. On average, analysts expect that Canadian Pacific Kansas City Limited will post 3.05 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm 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. This represents a $0.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, December 27th. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. Canadian Pacific Kansas City's payout ratio is 20.00%.

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.