Canadian Pacific Kansas City Limited (NYSE:CP) Stock Holdings Reduced by Wesbanco Bank Inc.

Wesbanco Bank Inc. cut its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,382 shares of the transportation company’s stock after selling 426 shares during the period. Wesbanco Bank Inc.’s holdings in Canadian Pacific Kansas City were worth $631,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Choate Investment Advisors lifted its stake in shares of Canadian Pacific Kansas City by 24.2% in the 1st quarter. Choate Investment Advisors now owns 72,010 shares of the transportation company’s stock valued at $6,349,000 after purchasing an additional 14,037 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter worth about $11,810,000. Blue Zone Wealth Advisors LLC acquired a new position in shares of Canadian Pacific Kansas City during the 1st quarter valued at about $4,160,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Canadian Pacific Kansas City by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,229,212 shares of the transportation company’s stock valued at $196,672,000 after acquiring an additional 13,727 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in Canadian Pacific Kansas City by 53.0% in the 1st quarter. Maryland State Retirement & Pension System now owns 49,072 shares of the transportation company’s stock worth $4,100,000 after purchasing an additional 16,995 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Price Performance

Shares of CP stock opened at $81.98 on Thursday. The stock’s fifty day simple moving average is $82.73 and its 200 day simple moving average is $81.77. Canadian Pacific Kansas City Limited has a one year low of $68.92 and a one year high of $91.58. The firm has a market cap of $76.49 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 2.21 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.51 and a quick ratio of 0.44.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.74 by $0.31. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. On average, analysts expect that Canadian Pacific Kansas City Limited will post 3.2 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.1373 per share. The ex-dividend date is Friday, September 27th. This represents a $0.55 annualized dividend and a yield of 0.67%. Canadian Pacific Kansas City’s dividend payout ratio is 17.31%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CP shares. Susquehanna increased their price target on Canadian Pacific Kansas City from $80.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Evercore ISI lifted their target price on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. Citigroup initiated coverage on shares of Canadian Pacific Kansas City in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price target for the company. Stifel Nicolaus dropped their price objective on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, October 11th. Finally, Scotiabank upgraded Canadian Pacific Kansas City from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.90.

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.