LPL Financial LLC Sells 20,791 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• LPL Financial LLC has reduced its stake in Canadian Pacific Kansas City Limited by 8.1% to 237,284 shares, valued at $16.66 million.
• The stock currently has a consensus rating of "Moderate Buy" and an average price target of $92.30, with recent analyst ratings showing a mix of buy and sell recommendations.
• Canadian Pacific Kansas City recently increased its quarterly dividend to $0.1651, representing a yield of 0.9% and reflecting a positive change from the previous quarter's dividend.

LPL Financial LLC trimmed its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 8.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 237,284 shares of the transportation company's stock after selling 20,791 shares during the quarter. LPL Financial LLC's holdings in Canadian Pacific Kansas City were worth $16,660,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CP. Causeway Capital Management LLC raised its stake in shares of Canadian Pacific Kansas City by 76.5% in the 4th quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock worth $1,116,632,000 after buying an additional 6,687,770 shares in the last quarter. Invesco Ltd. boosted its holdings in Canadian Pacific Kansas City by 25.7% during the fourth quarter. Invesco Ltd. now owns 10,647,039 shares of the transportation company's stock worth $770,526,000 after buying an additional 2,177,604 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Canadian Pacific Kansas City by 44.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock worth $351,723,000 after buying an additional 1,516,684 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Canadian Pacific Kansas City by 11.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock valued at $899,805,000 after buying an additional 1,262,913 shares in the last quarter. Finally, Consulta Ltd lifted its position in shares of Canadian Pacific Kansas City by 78.6% during the 4th quarter. Consulta Ltd now owns 2,500,000 shares of the transportation company's stock valued at $180,925,000 after acquiring an additional 1,100,000 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. National Bank Financial raised shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. Citigroup increased their price objective on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Bank of America raised their price target on shares of Canadian Pacific Kansas City from $82.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of "Moderate Buy" and an average price target of $92.30.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock traded down $1.10 during mid-day trading on Thursday, reaching $75.40. The company had a trading volume of 3,202,698 shares, compared to its average volume of 3,253,473. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The firm has a market cap of $69.21 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 2.11 and a beta of 1.06. The company has a 50 day moving average of $79.43 and a 200-day moving average of $76.94. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $87.72.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last issued its quarterly earnings results 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 net margin of 28.05% and a return on equity of 8.69%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm earned $1.05 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be paid a $0.1651 dividend. The ex-dividend date of this dividend is Friday, September 26th. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Canadian Pacific Kansas City's payout ratio is presently 20.25%.

About Canadian Pacific Kansas City

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.