Walter Public Investments Inc. Sells 29,659 Shares of Canadian Pacific Kansas City Limited $CP

Key Points

• Walter Public Investments Inc. reduced its Canadian Pacific Kansas City stake by 20.7% in the first quarter, selling 29,659 shares and leaving it with 113,672 shares valued at about $8.95 million.
• Canadian Pacific Kansas City recently raised its quarterly dividend to $0.268 per share from $0.23, which annualizes to $1.07 per share and yields about 1.2%.
• The company’s latest earnings missed analyst expectations, with EPS of $0.76 versus $0.78 expected and revenue of $2.66 billion versus $2.70 billion expected, though analysts still view the stock as a Moderate Buy with a $104.30 consensus target price.

Walter Public Investments Inc. lessened its stake in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 20.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 113,672 shares of the transportation company's stock after selling 29,659 shares during the quarter. Canadian Pacific Kansas City makes up approximately 2.1% of Walter Public Investments Inc.'s portfolio, making the stock its 24th biggest holding. Walter Public Investments Inc.'s holdings in Canadian Pacific Kansas City were worth $8,945,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Canadian Pacific Kansas City in the fourth quarter worth $978,558,000. Janus Henderson Group PLC lifted its position in shares of Canadian Pacific Kansas City by 586.1% during the 4th quarter. Janus Henderson Group PLC now owns 6,147,835 shares of the transportation company's stock valued at $452,781,000 after buying an additional 5,251,755 shares during the last quarter. Invesco Ltd. lifted its position in shares of Canadian Pacific Kansas City by 18.3% during the 3rd quarter. Invesco Ltd. now owns 23,128,485 shares of the transportation company's stock valued at $1,722,841,000 after buying an additional 3,585,030 shares during the last quarter. FIL Ltd grew its stake in shares of Canadian Pacific Kansas City by 20.2% during the 4th quarter. FIL Ltd now owns 16,666,777 shares of the transportation company's stock worth $1,227,045,000 after acquiring an additional 2,804,686 shares during the period. Finally, Canoe Financial LP grew its stake in shares of Canadian Pacific Kansas City by 45,389.7% during the 1st quarter. Canoe Financial LP now owns 2,032,478 shares of the transportation company's stock worth $159,885,000 after acquiring an additional 2,028,010 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Canadian Pacific Kansas City Stock Performance

Shares of CP opened at $87.91 on Friday. Canadian Pacific Kansas City Limited has a 52-week low of $68.42 and a 52-week high of $91.52. The stock's 50-day simple moving average is $87.29 and its 200 day simple moving average is $81.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67. The stock has a market capitalization of $77.80 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its earnings results on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.02). Canadian Pacific Kansas City had a net margin of 27.20% and a return on equity of 8.86%. The company had revenue of $2.66 billion for the quarter, compared to analysts' expectations of $2.70 billion. During the same period in the previous year, the firm earned $1.06 EPS. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts forecast that Canadian Pacific Kansas City Limited will post 3.75 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, July 27th. Investors of record on Friday, June 26th will be paid a dividend of $0.268 per share. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.23. This represents a $1.07 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 26th. Canadian Pacific Kansas City's dividend payout ratio is presently 24.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded Canadian Pacific Kansas City from a "sell" rating to a "hold" rating in a research note on Saturday, May 30th. Scotiabank lowered shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 9th. ATB Cormark Capital Markets downgraded shares of Canadian Pacific Kansas City from a "strong-buy" rating to a "moderate buy" rating in a research note on Friday, April 17th. Canadian Imperial Bank of Commerce boosted their price target on shares of Canadian Pacific Kansas City from C$140.00 to C$143.00 and gave the company an "outperformer" rating in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $104.30.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC's core business is freight transportation and related logistics services.

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