Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 241,126 shares of the transportation company’s stock after selling 3,345 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Canadian Pacific Kansas City were worth $20,626,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CP. Grove Bank & Trust boosted its stake in shares of Canadian Pacific Kansas City by 56.0% during the 3rd quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after acquiring an additional 130 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter valued at $32,000. Addison Advisors LLC boosted its position in shares of Canadian Pacific Kansas City by 246.9% in the 3rd quarter. Addison Advisors LLC now owns 392 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 279 shares during the period. Chris Bulman Inc purchased a new position in Canadian Pacific Kansas City in the 2nd quarter worth about $35,000. Finally, Asset Dedication LLC acquired a new stake in Canadian Pacific Kansas City during the 3rd quarter worth about $38,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Price Performance

Shares of CP opened at $75.19 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a twelve month low of $69.27 and a twelve month high of $91.58. The stock has a market capitalization of $70.18 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.19 and a beta of 0.98. The company has a 50 day moving average of $80.54 and a 200-day moving average of $80.49.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.02). The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 EPS. As a group, equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.06 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.74%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City’s payout ratio is 19.64%.

Wall Street Analyst Weigh In

CP has been the subject of several recent analyst reports. Bank of America decreased their target price on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Stephens lowered their price objective on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Citigroup reduced their target price on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Evercore ISI lifted their price target on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Finally, Sanford C. Bernstein reduced their price objective on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.68.

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.