Canadian Pacific Kansas City Limited $CP Holdings Lessened by Douglas Lane & Associates LLC

Key Points

• Douglas Lane & Associates cut its Canadian Pacific Kansas City stake by 40.8% in the third quarter, selling 43,328 shares and retaining 62,777 shares valued at approximately $5.34 million. Institutional investors collectively own 72.2% of the company.
• Analyst sentiment remains positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $111.83. Wells Fargo raised its target to $100, while other firms maintained outperform or buy-equivalent ratings.
• CPKC exceeded quarterly expectations, reporting adjusted earnings of $0.92 per share and revenue of $2.93 billion, up 12.6% year over year. The company also announced a quarterly dividend of C$0.27 per share, representing an annualized yield of about 1.3%.

Douglas Lane & Associates LLC trimmed its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 40.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,777 shares of the transportation company's stock after selling 43,328 shares during the quarter. Douglas Lane & Associates LLC's holdings in Canadian Pacific Kansas City were worth $5,342,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Canadian Pacific Kansas City by 1.3% during the 4th quarter. Invesco Ltd. now owns 23,431,949 shares of the transportation company's stock valued at $1,725,294,000 after purchasing an additional 303,464 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Canadian Pacific Kansas City during the 2nd quarter worth approximately $802,983,000. The Manufacturers Life Insurance Company bought a new stake in shares of Canadian Pacific Kansas City during the second quarter worth $657,672,000. Legal & General Group Plc purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter valued at $604,797,000. Finally, Janus Henderson Group PLC increased its position in shares of Canadian Pacific Kansas City by 9.8% during the first quarter. Janus Henderson Group PLC now owns 6,749,527 shares of the transportation company's stock worth $530,551,000 after acquiring an additional 601,692 shares during the period. Institutional investors own 72.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Stephens upgraded shares of Canadian Pacific Kansas City to a "hold" rating in a report on Wednesday, July 8th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a report on Thursday, September 24th. Wells Fargo & Company boosted their price objective on shares of Canadian Pacific Kansas City from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 8th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 16th. Finally, Citizens Jmp initiated coverage on Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They set a "market perform" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $111.83.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE CP opened at $84.53 on Friday. The company's fifty day moving average price is $90.02 and its 200 day moving average price is $87.60. The company has a market capitalization of $73.97 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.77 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. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.59.

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 earnings per share for the quarter, topping 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 analysts' expectations of $2.89 billion. During the same period in the prior year, the business posted $1.12 earnings per share. The firm's revenue for the quarter was up 12.6% on a year-over-year basis. On average, research analysts predict that Canadian Pacific Kansas City Limited will post 3.70 earnings per share for the current year.

Canadian Pacific Kansas City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be paid a dividend of C$0.27 per share. This represents a $1.07 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, September 25th. Canadian Pacific Kansas City's dividend payout ratio is currently 24.76%.

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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