Renaissance Technologies LLC Buys Shares of 139,960 Canadian Pacific Kansas City Limited (NYSE:CP)

Renaissance Technologies LLC acquired a new stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 139,960 shares of the transportation company's stock, valued at approximately $10,129,000.

Several other hedge funds also recently added to or reduced their stakes in CP. Smartleaf Asset Management LLC lifted its holdings in shares of Canadian Pacific Kansas City by 18.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 839 shares of the transportation company's stock worth $60,000 after acquiring an additional 133 shares during the last quarter. Pinnacle Bancorp Inc. grew its stake in shares of Canadian Pacific Kansas City by 13.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,250 shares of the transportation company's stock valued at $90,000 after buying an additional 150 shares in the last quarter. Wiser Advisor Group LLC raised its holdings in shares of Canadian Pacific Kansas City by 9.5% in the 4th quarter. Wiser Advisor Group LLC now owns 1,732 shares of the transportation company's stock valued at $125,000 after buying an additional 150 shares during the period. BKM Wealth Management LLC boosted its holdings in Canadian Pacific Kansas City by 2.2% during the 4th quarter. BKM Wealth Management LLC now owns 7,267 shares of the transportation company's stock valued at $526,000 after acquiring an additional 158 shares during the period. Finally, OneAscent Financial Services LLC grew its position in Canadian Pacific Kansas City by 4.7% in the 4th quarter. OneAscent Financial Services LLC now owns 3,745 shares of the transportation company's stock valued at $271,000 after acquiring an additional 167 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP traded down $0.25 during trading hours on Tuesday, reaching $72.86. The stock had a trading volume of 2,550,015 shares, compared to its average volume of 2,712,894. The firm has a 50-day moving average of $74.01 and a 200-day moving average of $75.75. The firm has a market cap of $67.78 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 2.00 and a beta of 1.01. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $88.31.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings data on Wednesday, January 29th. The transportation company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.26. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. Equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a dividend of $0.1318 per share. This represents a $0.53 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, March 28th. Canadian Pacific Kansas City's payout ratio is currently 17.93%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Benchmark reissued a "hold" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, January 30th. Stifel Nicolaus reduced their price objective on Canadian Pacific Kansas City from $85.00 to $79.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. StockNews.com cut Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Wednesday, December 25th. Wolfe Research upgraded shares of Canadian Pacific Kansas City from a "peer perform" rating to an "outperform" rating and set a $86.00 target price on the stock in a research note on Wednesday, January 8th. Finally, Citigroup lowered their price target on shares of Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Canadian Pacific Kansas City has a consensus rating of "Moderate Buy" and a consensus price target of $93.75.

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.