Canadian Pacific Kansas City Limited (NYSE:CP) Holdings Trimmed by Wealth Alliance

Wealth Alliance trimmed its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,845 shares of the transportation company’s stock after selling 232 shares during the period. Wealth Alliance’s holdings in Canadian Pacific Kansas City were worth $1,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Canadian Pacific Kansas City by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 34,926,548 shares of the transportation company’s stock valued at $3,079,474,000 after buying an additional 588,701 shares during the period. TD Asset Management Inc boosted its stake in shares of Canadian Pacific Kansas City by 2.5% during the 1st quarter. TD Asset Management Inc now owns 21,703,229 shares of the transportation company’s stock valued at $1,915,196,000 after buying an additional 532,303 shares during the period. Veritas Asset Management LLP boosted its stake in shares of Canadian Pacific Kansas City by 1.8% during the 4th quarter. Veritas Asset Management LLP now owns 13,434,704 shares of the transportation company’s stock valued at $1,062,148,000 after buying an additional 243,210 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Canadian Pacific Kansas City by 4.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 11,969,862 shares of the transportation company’s stock valued at $948,585,000 after buying an additional 507,177 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of Canadian Pacific Kansas City by 8.2% during the 1st quarter. Clearbridge Investments LLC now owns 8,203,273 shares of the transportation company’s stock valued at $723,523,000 after buying an additional 622,106 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Down 0.7 %

Shares of CP opened at $86.04 on Thursday. The company has a 50-day simple moving average of $82.04 and a 200-day simple moving average of $82.52. The firm has a market capitalization of $80.28 billion, a P/E ratio of 27.58, a P/E/G ratio of 2.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.51. Canadian Pacific Kansas City Limited has a 52 week low of $68.92 and a 52 week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.1 earnings per share for the current year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a $0.1373 dividend. This represents a $0.55 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.31%.

Analyst Ratings Changes

Several research firms recently issued reports on CP. Stifel Nicolaus lifted their price objective on shares of Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th. Barclays reduced their price objective on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Jefferies Financial Group reduced their price objective on shares of Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Wells Fargo & Company began coverage on shares of Canadian Pacific Kansas City in a research note on Friday, June 7th. They issued an “overweight” rating and a $90.00 price objective for the company. Finally, Scotiabank raised shares of Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average target price of $96.36.

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.