Granite Investment Partners LLC Has $1.85 Million Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Granite Investment Partners LLC trimmed its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,546 shares of the transportation company’s stock after selling 1,282 shares during the quarter. Granite Investment Partners LLC’s holdings in Canadian Pacific Kansas City were worth $1,854,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CP. LRI Investments LLC acquired a new stake in shares of Canadian Pacific Kansas City in the first quarter worth $32,000. Chris Bulman Inc purchased a new position in shares of Canadian Pacific Kansas City during the 2nd quarter valued at $35,000. ORG Partners LLC purchased a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter worth about $39,000. Tobam bought a new stake in shares of Canadian Pacific Kansas City in the 1st quarter valued at approximately $51,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Canadian Pacific Kansas City in the second quarter worth about $61,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE:CP opened at $85.89 on Friday. The business has a fifty day moving average of $82.16 and a 200-day moving average of $82.55. The firm has a market cap of $80.14 billion, a PE ratio of 27.53, a price-to-earnings-growth 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 twelve month low of $68.92 and a twelve month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.31. The company had revenue of $3.60 billion for 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%. Canadian Pacific Kansas City’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 earnings per share. On average, equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.1 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a dividend of $0.1373 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 0.64%. Canadian Pacific Kansas City’s payout ratio is currently 17.31%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CP. Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, July 10th. Stifel Nicolaus increased their target price on 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 lowered their price objective on shares of Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Susquehanna restated a “neutral” rating and set a $80.00 price objective on shares of Canadian Pacific Kansas City in a report on Wednesday, July 31st. Finally, Wells Fargo & Company began coverage on Canadian Pacific Kansas City in a research report on Friday, June 7th. They set an “overweight” rating and a $90.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.36.

Canadian Pacific Kansas City Company 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.