Bank of Nova Scotia Trust Co. Has $23.12 Million Stock Holdings in Canadian Pacific Kansas City Limited $CP

Bank of Nova Scotia Trust Co. raised its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,632 shares of the transportation company’s stock after buying an additional 4,977 shares during the period. Canadian Pacific Kansas City accounts for 2.3% of Bank of Nova Scotia Trust Co.’s holdings, making the stock its 12th largest holding. Bank of Nova Scotia Trust Co.’s holdings in Canadian Pacific Kansas City were worth $23,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanderbilt University raised its position in Canadian Pacific Kansas City by 10.3% in the second quarter. Vanderbilt University now owns 75,452 shares of the transportation company’s stock valued at $5,982,000 after purchasing an additional 7,050 shares during the last quarter. Key Financial Inc bought a new stake in shares of Canadian Pacific Kansas City during the second quarter worth about $371,000. Ninety One North America Inc. increased its stake in shares of Canadian Pacific Kansas City by 135.7% in the second quarter. Ninety One North America Inc. now owns 206,785 shares of the transportation company’s stock valued at $16,394,000 after buying an additional 119,052 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in Canadian Pacific Kansas City by 2.2% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 648,343 shares of the transportation company’s stock valued at $51,410,000 after buying an additional 14,260 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in Canadian Pacific Kansas City by 7.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,935,337 shares of the transportation company’s stock valued at $153,847,000 after buying an additional 136,981 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Barclays set a $90.00 price objective on Canadian Pacific Kansas City and gave the company an “overweight” rating in a report on Thursday, October 2nd. Stephens raised their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Jefferies Financial Group set a $90.00 price target on Canadian Pacific Kansas City in a research report on Thursday, October 30th. Finally, National Bankshares restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.69.

Canadian Pacific Kansas City Stock Performance

Shares of Canadian Pacific Kansas City stock opened at $72.17 on Friday. The business has a 50-day moving average price of $73.51 and a two-hundred day moving average price of $76.59. Canadian Pacific Kansas City Limited has a 1-year low of $66.49 and a 1-year high of $83.65. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 0.46. The company has a market cap of $64.75 billion, a P/E ratio of 22.00, a PEG ratio of 1.82 and a beta of 1.08.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. As a group, analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.228 per share. This represents a $0.91 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 19.51%.

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.