Pacific Heights Asset Management LLC Reduces Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Pacific Heights Asset Management LLC lessened its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 6.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 155,000 shares of the transportation company’s stock after selling 10,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in Canadian Pacific Kansas City were worth $13,259,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Mirova US LLC acquired a new stake in Canadian Pacific Kansas City during the 2nd quarter worth approximately $168,063,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Canadian Pacific Kansas City by 398.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock valued at $165,419,000 after buying an additional 1,678,784 shares during the period. Cantillon Capital Management LLC increased its stake in Canadian Pacific Kansas City by 49.1% in the 1st quarter. Cantillon Capital Management LLC now owns 3,567,692 shares of the transportation company’s stock valued at $314,563,000 after buying an additional 1,174,200 shares during the period. Wulff Hansen & CO. raised its position in Canadian Pacific Kansas City by 8,261.4% during the 2nd quarter. Wulff Hansen & CO. now owns 943,500 shares of the transportation company’s stock worth $74,282,000 after buying an additional 932,216 shares during the last quarter. Finally, AGF Management Ltd. lifted its stake in shares of Canadian Pacific Kansas City by 86.5% in the 2nd quarter. AGF Management Ltd. now owns 1,586,609 shares of the transportation company’s stock worth $125,094,000 after acquiring an additional 735,816 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CP shares. Susquehanna raised shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and cut their price target for the stock from $94.00 to $92.00 in a report on Thursday, October 24th. Citigroup lifted their price target on Canadian Pacific Kansas City from $97.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Evercore ISI increased their price objective on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, October 24th. Finally, Bank of America cut their price target 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. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.15.

Canadian Pacific Kansas City Stock Performance

NYSE CP opened at $77.08 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 fifty-two week low of $69.08 and a fifty-two week high of $91.58. The business has a fifty day moving average of $82.60 and a 200-day moving average of $81.07. The stock has a market cap of $71.94 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 2.32 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts predict that Canadian Pacific Kansas City Limited will post 3.05 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio is currently 19.64%.

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.