USS Investment Management Ltd Sells 51,400 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• USS Investment Management Ltd has reduced its stake in Canadian Pacific Kansas City Limited by 23.6%, selling 51,400 shares during the first quarter.
• Canadian Pacific Kansas City declared a quarterly dividend increase to $0.1651 per share, with the dividend payout ratio at 20.56%.
• Despite missing earnings expectations this quarter, analysts have a consensus "Moderate Buy" rating for the company with a target price averaging $92.30.

USS Investment Management Ltd lowered its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 23.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 166,770 shares of the transportation company's stock after selling 51,400 shares during the period. USS Investment Management Ltd's holdings in Canadian Pacific Kansas City were worth $11,743,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. North Capital Inc. bought a new position in shares of Canadian Pacific Kansas City during the first quarter valued at $27,000. Cornerstone Planning Group LLC boosted its position in shares of Canadian Pacific Kansas City by 209.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Cheviot Value Management LLC bought a new stake in shares of Canadian Pacific Kansas City during the 1st quarter valued at about $30,000. Bernard Wealth Management Corp. bought a new stake in shares of Canadian Pacific Kansas City during the 4th quarter valued at about $31,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Canadian Pacific Kansas City by 49.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock valued at $35,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Wall Street Analyst Weigh In

CP has been the subject of a number of research reports. Susquehanna restated a "positive" rating and issued a $94.00 price target (up from $90.00) on shares of Canadian Pacific Kansas City in a report on Tuesday, June 24th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Citigroup lifted their price target on shares of 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. Wall Street Zen raised shares of Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. Finally, National Bank Financial upgraded Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $92.30.

Canadian Pacific Kansas City Stock Down 0.2%

CP opened at $76.64 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81. The company's 50-day moving average is $77.06 and its 200 day moving average is $76.46. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $87.72. The firm has a market capitalization of $69.50 billion, a P/E ratio of 23.87, a PEG ratio of 2.15 and a beta of 1.06.

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

Canadian Pacific Kansas City Increases Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.