Erste Asset Management GmbH Trims Stock Position in Canadian Pacific Kansas City Limited $CP

Key Points

• Erste Asset Management GmbH has reduced its stake in Canadian Pacific Kansas City Limited by 8.1%, now holding 101,823 shares valued at approximately $7.04 million.
• Canadian Pacific Kansas City recently reported a quarterly EPS of $0.81, which fell short of the consensus estimate of $0.82, alongside a 2.7% revenue increase year-over-year.
• The company announced an increase in its quarterly dividend from $0.16 to $0.1651 per share, with a 0.9% yield expected to be paid on October 27th.

Erste Asset Management GmbH lowered its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 8.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 101,823 shares of the transportation company's stock after selling 8,954 shares during the period. Erste Asset Management GmbH's holdings in Canadian Pacific Kansas City were worth $7,042,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Canadian Pacific Kansas City by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,065,476 shares of the transportation company's stock valued at $74,807,000 after buying an additional 31,508 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Canadian Pacific Kansas City by 70.0% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,990 shares of the transportation company's stock valued at $421,000 after buying an additional 2,467 shares during the last quarter. CX Institutional purchased a new position in shares of Canadian Pacific Kansas City during the 1st quarter valued at about $61,000. Janney Montgomery Scott LLC raised its stake in shares of Canadian Pacific Kansas City by 28.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 101,211 shares of the transportation company's stock valued at $7,106,000 after buying an additional 22,606 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Canadian Pacific Kansas City by 1.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 28,676 shares of the transportation company's stock valued at $2,012,000 after buying an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Trading Down 0.7%

CP stock opened at $74.2960 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $87.72. The stock has a market cap of $67.88 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 2.10 and a beta of 1.06. The business's 50-day moving average is $78.04 and its 200 day moving average is $76.65.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%.The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company's quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be issued a $0.1651 dividend. This represents a $0.66 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. Canadian Pacific Kansas City's payout ratio is presently 20.56%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CP shares. Bank of America lifted their price objective on Canadian Pacific Kansas City from $82.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Citigroup lifted their price target on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. The Goldman Sachs Group restated a "neutral" rating and issued a $91.00 price target on shares of Canadian Pacific Kansas City in a research note on Monday, June 2nd. National Bank Financial upgraded Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, Susquehanna restated a "positive" rating and issued a $94.00 price target (up previously from $90.00) on shares of Canadian Pacific Kansas City in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Canadian Pacific Kansas City has a consensus rating of "Moderate Buy" and an average target price of $92.30.

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.

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