Allspring Global Investments Holdings LLC Sells 187,324 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Allspring Global Investments reduced its stake in Canadian Pacific Kansas City by 3.4% in the first quarter, selling 187,324 shares and leaving it with 5.3 million shares valued at about $413.4 million.
• CPKC reported mixed quarterly results, with earnings of $0.76 per share and revenue of $2.66 billion, both slightly below analyst expectations. Revenue also declined 2.5% year over year.
• The company boosted its dividend to $0.268 per share quarterly, up from $0.23, implying an annualized dividend of $1.07 and a yield of about 1.2%.

Allspring Global Investments Holdings LLC cut its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,299,197 shares of the transportation company's stock after selling 187,324 shares during the quarter. Canadian Pacific Kansas City comprises 0.7% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 17th biggest holding. Allspring Global Investments Holdings LLC owned 0.60% of Canadian Pacific Kansas City worth $413,443,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CP. Cromwell Holdings LLC increased its stake in shares of Canadian Pacific Kansas City by 8.1% during the fourth quarter. Cromwell Holdings LLC now owns 1,936 shares of the transportation company's stock worth $143,000 after purchasing an additional 145 shares during the period. Essex Financial Services Inc. raised its stake in Canadian Pacific Kansas City by 3.2% in the 1st quarter. Essex Financial Services Inc. now owns 4,785 shares of the transportation company's stock worth $376,000 after purchasing an additional 149 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in Canadian Pacific Kansas City by 3.2% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,033 shares of the transportation company's stock valued at $371,000 after purchasing an additional 157 shares during the period. Fortune Financial Advisors LLC boosted its holdings in Canadian Pacific Kansas City by 1.2% in the 4th quarter. Fortune Financial Advisors LLC now owns 13,623 shares of the transportation company's stock valued at $1,003,000 after purchasing an additional 158 shares during the period. Finally, Brookstone Capital Management increased its holdings in Canadian Pacific Kansas City by 1.2% in the 4th quarter. Brookstone Capital Management now owns 14,355 shares of the transportation company's stock valued at $1,057,000 after buying an additional 176 shares during the period. Institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Price Performance

CP stock opened at $92.84 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 0.46. The firm has a market cap of $82.17 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 1.81 and a beta of 1.10. The company's fifty day simple moving average is $88.09 and its 200 day simple moving average is $82.69. Canadian Pacific Kansas City Limited has a 12-month low of $68.42 and a 12-month high of $93.30.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its earnings results on Wednesday, April 29th. The transportation company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.02). The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 EPS. On average, analysts expect that Canadian Pacific Kansas City Limited will post 3.68 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 27th. Investors of record on Friday, June 26th will be paid a dividend of $0.268 per share. This is a boost from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. This represents a $1.07 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 26th. Canadian Pacific Kansas City's payout ratio is currently 24.07%.

Analyst Ratings Changes

Several research firms recently issued reports on CP. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday. ATB Cormark Capital Markets downgraded shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, April 17th. Weiss Ratings upgraded Canadian Pacific Kansas City from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 2nd. Argus set a $105.00 target price on Canadian Pacific Kansas City in a report on Tuesday, June 16th. Finally, Susquehanna lifted their price target on Canadian Pacific Kansas City from $104.00 to $106.00 and gave the company a "positive" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $104.91.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC's core business is freight transportation and related logistics services.

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