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

Principal Financial Group Inc. boosted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 10.3% in the third quarter, HoldingsChannel reports. The firm owned 2,742,375 shares of the transportation company’s stock after acquiring an additional 257,200 shares during the period. Principal Financial Group Inc.’s holdings in Canadian Pacific Kansas City were worth $234,806,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Grove Bank & Trust increased its stake in shares of Canadian Pacific Kansas City by 56.0% in the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after buying an additional 130 shares in the last quarter. LRI Investments LLC acquired a new stake in Canadian Pacific Kansas City in the 1st quarter valued at about $32,000. Chris Bulman Inc bought a new position in shares of Canadian Pacific Kansas City in the second quarter worth about $35,000. Asset Dedication LLC acquired a new position in shares of Canadian Pacific Kansas City during the third quarter worth approximately $38,000. Finally, ORG Partners LLC bought a new stake in shares of Canadian Pacific Kansas City during the second quarter valued at approximately $39,000. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Bank of America lowered their target price on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Citigroup upped their target price on shares of Canadian Pacific Kansas City from $97.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Susquehanna upgraded shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and lowered their price target for the stock from $94.00 to $92.00 in a research report on Thursday, October 24th. Finally, Barclays increased 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 report on Wednesday, September 25th. Eight research analysts have rated the stock with a hold rating and eleven 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 target price of $94.15.

Canadian Pacific Kansas City Stock Up 0.4 %

CP stock opened at $78.80 on Friday. The company has a market cap of $73.55 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 2.32 and a beta of 0.98. Canadian Pacific Kansas City Limited has a twelve month low of $69.08 and a twelve month high of $91.58. The business has a 50 day moving average price of $82.36 and a two-hundred day moving average price of $80.94. 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) (TSE:CP) last released its 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). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the business posted $0.69 earnings per share. Canadian Pacific Kansas City’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that Canadian Pacific Kansas City Limited will post 3.06 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced 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 0.71%. This is a boost 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 dividend payout ratio is presently 19.64%.

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.