Verdence Capital Advisors LLC Purchases New Holdings in Canadian Pacific Kansas City Limited $CP

Key Points

• Verdence Capital Advisors LLC acquired a new stake in Canadian Pacific Kansas City Limited, purchasing 6,419 shares valued at approximately $509,000 during the second quarter.
• Canadian Pacific Kansas City recently missed earnings estimates, reporting $0.81 earnings per share compared to the consensus estimate of $0.82, alongside revenue of $2.72 billion for the quarter.
• The company announced an increase in its quarterly dividend to $0.1651 per share, representing an annualized yield of 0.9%, with the payment scheduled for October 27th.

Verdence Capital Advisors LLC purchased a new stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,419 shares of the transportation company's stock, valued at approximately $509,000.

Other large investors also recently bought and sold shares of the company. North Capital Inc. purchased a new position in Canadian Pacific Kansas City during the 1st quarter valued at about $27,000. Cornerstone Planning Group LLC lifted its position in 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 acquiring an additional 256 shares during the period. Cheviot Value Management LLC purchased a new position in Canadian Pacific Kansas City during the 1st quarter valued at about $30,000. Hexagon Capital Partners LLC raised its holdings in Canadian Pacific Kansas City by 49.5% in the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock worth $35,000 after buying an additional 164 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Canadian Pacific Kansas City in the first quarter worth approximately $35,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Up 0.9%

CP opened at $76.84 on Thursday. 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 50 day moving average price of $75.40 and a 200-day moving average price of $76.58. Canadian Pacific Kansas City Limited has a twelve month low of $66.49 and a twelve month high of $83.65. The stock has a market capitalization of $69.68 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 2.15 and a beta of 1.08.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share 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 company had revenue of $2.72 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current 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 given a dividend of $0.1651 per share. This represents a $0.66 annualized dividend and a yield of 0.9%. This is a positive change 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 (DPR) is presently 20.56%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Canadian Pacific Kansas City in a report on Wednesday, October 8th. Barclays set a $90.00 price objective on Canadian Pacific Kansas City and gave the company an "overweight" rating in a research report on Thursday, October 2nd. Susquehanna lowered their price objective on Canadian Pacific Kansas City from $91.00 to $88.00 and set a "positive" rating on the stock in a research report on Thursday, September 25th. Scotiabank reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Canadian Pacific Kansas City in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Canadian Pacific Kansas City currently has an average rating of "Moderate Buy" and a consensus target price of $91.38.

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.

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