Putnam Investments LLC Buys 368,036 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)
Putnam Investments LLC grew its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) (TSE:CP) by 17.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,476,504 shares of the transportation company's stock after purchasing Putnam Investments LLC increased its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) by 17.5% during the 4th quarter. The fund now owns 2,476,504 shares of the transportation company's stock after purchasing an additional 368,036 shares during the period. Putnam Investments owned approximately 0.27% of the company, worth $195,792,000. Other hedge funds and other institutional investors also recently modified their holdings of CP. Norges Bank bought a new position in shares of Canadian Pacific K City in the fourth quarter at $979,890,000 and TD Asset Management Inc boosted its holdings by 47.7%.
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Putnam Investments LLC grew its holdings in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 17.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,476,504 shares of the transportation company's stock after purchasing an additional 368,036 shares during the period. Putnam Investments LLC owned approximately 0.27% of Canadian Pacific Kansas City worth $195,792,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of CP. Norges Bank bought a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at $979,890,000. TD Asset Management Inc boosted its holdings in shares of Canadian Pacific Kansas City by 47.7% during the 4th quarter. TD Asset Management Inc now owns 21,170,926 shares of the transportation company's stock valued at $1,682,256,000 after acquiring an additional 6,835,271 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter valued at $481,016,000. Causeway Capital Management LLC acquired a new stake in shares of Canadian Pacific Kansas City during the 3rd quarter valued at $305,505,000. Finally, Toronto Dominion Bank boosted its holdings in shares of Canadian Pacific Kansas City by 1,122.4% during the 3rd quarter. Toronto Dominion Bank now owns 3,398,403 shares of the transportation company's stock valued at $252,875,000 after acquiring an additional 3,120,385 shares in the last quarter. Institutional investors own 72.20% of the company's stock.
Several research firms recently weighed in on CP. Susquehanna cut their price objective on Canadian Pacific Kansas City from $84.00 to $80.00 and set a "neutral" rating on the stock in a report on Thursday, April 25th. Scotiabank reissued a "sector perform" rating on shares of Canadian Pacific Kansas City in a report on Monday, March 25th. Wells Fargo & Company began coverage on Canadian Pacific Kansas City in a report on Friday, June 7th. They set an "overweight" rating and a $90.00 price objective on the stock. Jefferies Financial Group began coverage on Canadian Pacific Kansas City in a report on Monday, April 8th. They set a "buy" rating and a $105.00 price objective on the stock. Finally, Benchmark reissued a "hold" rating on shares of Canadian Pacific Kansas City in a report on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $96.32.
Get Our Latest Research Report on CP
Shares of NYSE:CP opened at $76.68 on Wednesday. The company has a market capitalization of $71.52 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 2.18 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.49 and a quick ratio of 0.43. The business's 50-day moving average is $81.86 and its 200-day moving average is $81.73. Canadian Pacific Kansas City Limited has a 1 year low of $68.92 and a 1 year high of $91.58.
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Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.01). The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Canadian Pacific Kansas City had a net margin of 28.27% and a return on equity of 8.48%. Equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be given a $0.141 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, June 28th. Canadian Pacific Kansas City's payout ratio is 17.95%.
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.
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