62,045 Shares of Canadian Pacific Kansas City Limited $CP Acquired by Reliant Investment Management LLC

Key Points

• Reliant Investment Management acquired 62,045 shares of Canadian Pacific Kansas City, valued at approximately $5.28 million, making CP about 1.8% of its portfolio. Institutional investors and hedge funds own 72.2% of the company.
• Canadian Pacific Kansas City beat quarterly earnings expectations, reporting adjusted EPS of $0.92 versus the $0.89 consensus and revenue of $2.93 billion, up 12.6% year over year.
• The company declared a quarterly dividend of C$0.27 per share, equivalent to an annualized yield of about 1.2%. Analysts maintain a “Moderate Buy” consensus with an average price target of $111.83.

Reliant Investment Management LLC purchased a new stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 62,045 shares of the transportation company's stock, valued at approximately $5,280,000. Canadian Pacific Kansas City comprises approximately 1.8% of Reliant Investment Management LLC's portfolio, making the stock its 25th biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of CP. Sanders Morris Harris LLC bought a new stake in shares of Canadian Pacific Kansas City in the 3rd quarter worth approximately $1,311,000. Signal Advisors Wealth LLC acquired a new stake in Canadian Pacific Kansas City during the third quarter valued at approximately $272,000. B. Riley Wealth Advisors Inc. acquired a new stake in Canadian Pacific Kansas City during the third quarter valued at approximately $518,000. Krilogy Financial LLC boosted its holdings in Canadian Pacific Kansas City by 4.9% during the third quarter. Krilogy Financial LLC now owns 5,369 shares of the transportation company's stock worth $459,000 after buying an additional 250 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in Canadian Pacific Kansas City during the third quarter worth approximately $294,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Price Performance

NYSE CP opened at $86.13 on Thursday. The stock's 50-day moving average price is $89.72 and its two-hundred day moving average price is $87.79. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The company has a market cap of $75.37 billion, a PE ratio of 27.69, a PEG ratio of 1.80 and a beta of 1.13. Canadian Pacific Kansas City Limited has a 1 year low of $68.42 and a 1 year high of $96.90.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. The business's quarterly revenue was up 12.6% on a year-over-year basis. On average, analysts predict that Canadian Pacific Kansas City Limited will post 3.70 EPS for the current year.

Canadian Pacific Kansas City Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be issued a dividend of C$0.27 per share. The ex-dividend date is Friday, September 25th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. Canadian Pacific Kansas City's payout ratio is currently 24.76%.

Analyst Ratings Changes

Several research firms have issued reports on CP. Zacks Research upgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 30th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 16th. Stephens upgraded Canadian Pacific Kansas City to a "hold" rating in a research report on Wednesday, July 8th. Royal Bank Of Canada reissued an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 24th. Finally, Citigroup restated a "cautious" rating on shares of Canadian Pacific Kansas City in a report on Wednesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $111.83.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited NYSE: CP is a North American transportation company that operates a single-line railway linking Canada, the United States and Mexico. Headquartered in Calgary, Alberta, the company provides freight transportation and supply-chain services for customers across its extensive rail network.

CPKC transports a diverse range of products, including grain and fertilizers, coal, forest and industrial products, energy-related materials, automotive shipments, merchandise and intermodal freight.

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