Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC trimmed its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,822 shares of the transportation company’s stock after selling 1,040 shares during the period. Parallel Advisors LLC’s holdings in Canadian Pacific Kansas City were worth $1,797,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. JARISLOWSKY FRASER Ltd raised its position in shares of Canadian Pacific Kansas City by 63.6% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 89,644 shares of the transportation company’s stock valued at $7,127,000 after acquiring an additional 34,856 shares in the last quarter. Meritage Group LP acquired a new stake in shares of Canadian Pacific Kansas City during the 4th quarter valued at approximately $207,850,000. The Manufacturers Life Insurance Company raised its position 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 acquiring an additional 507,177 shares in the last quarter. Choate Investment Advisors raised its position in shares of Canadian Pacific Kansas City by 24.2% during the 1st quarter. Choate Investment Advisors now owns 72,010 shares of the transportation company’s stock valued at $6,349,000 after acquiring an additional 14,037 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Canadian Pacific Kansas City by 1.9% during the 4th quarter. Sei Investments Co. now owns 667,246 shares of the transportation company’s stock valued at $52,752,000 after acquiring an additional 12,323 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CP has been the subject of a number of recent research reports. Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Wells Fargo & Company initiated coverage on Canadian Pacific Kansas City in a research note on Friday, June 7th. They set an “overweight” rating and a $90.00 price objective for the company. Susquehanna restated a “neutral” rating and set a $80.00 price objective on shares of Canadian Pacific Kansas City in a research note on Wednesday, July 31st. Sanford C. Bernstein upped their price objective on Canadian Pacific Kansas City from $88.50 to $89.06 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Finally, Jefferies Financial Group lowered their price objective on 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. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.36.

Canadian Pacific Kansas City Trading Down 0.5 %

Shares of CP stock opened at $86.32 on Monday. The stock has a 50-day simple moving average of $81.63 and a 200 day simple moving average of $82.48. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.92 and a fifty-two week high of $91.58. The stock has a market capitalization of $80.54 billion, a P/E ratio of 27.67, a P/E/G ratio of 2.45 and a beta of 0.96. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42.

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 for the quarter, beating the consensus estimate of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter last year, the business posted $0.62 earnings per share. The company’s quarterly revenue was up 13.5% on a year-over-year basis. On average, sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.1 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

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

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.