Principal Financial Group Inc. Has $234.81 Million Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Principal Financial Group Inc. raised its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 10.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 about 0.29% of Canadian Pacific Kansas City worth $234,806,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Grove Bank & Trust boosted its position in Canadian Pacific Kansas City by 56.0% during the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 130 shares during the last quarter. Addison Advisors LLC lifted its holdings in shares of Canadian Pacific Kansas City by 246.9% during the 3rd quarter. Addison Advisors LLC now owns 392 shares of the transportation company’s stock valued at $34,000 after buying an additional 279 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter valued at about $34,000. Chris Bulman Inc bought a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter valued at approximately $35,000. Finally, Asset Dedication LLC acquired a new position in Canadian Pacific Kansas City in the third quarter worth approximately $38,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CP. Stephens decreased their target price on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. 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 report on Wednesday, October 9th. Susquehanna raised Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and reduced their price target for the stock from $94.00 to $92.00 in a research report on Thursday, October 24th. Barclays increased their price objective on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and an average price target of $94.88.

Canadian Pacific Kansas City Trading Down 2.6 %

Shares of CP opened at $71.10 on Friday. The stock’s 50-day moving average price is $76.84 and its 200 day moving average price is $79.74. 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 Limited has a 12-month low of $71.02 and a 12-month high of $91.58. The firm has a market capitalization of $66.36 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 2.26 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its 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). 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 analyst estimates of $3.59 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, research analysts predict that Canadian Pacific Kansas City Limited will post 3.05 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.79%. This is an increase 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 (DPR) is presently 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.