Canadian Pacific Kansas City Limited (NYSE:CP) Stake Lowered by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp trimmed its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 16.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,913 shares of the transportation company’s stock after selling 3,831 shares during the period. Atlantic Union Bankshares Corp’s holdings in Canadian Pacific Kansas City were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust lifted its stake in Canadian Pacific Kansas City by 56.0% in the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 130 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of Canadian Pacific Kansas City by 246.9% during the 3rd quarter. Addison Advisors LLC now owns 392 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 279 shares in the last quarter. LRI Investments LLC bought a new position in shares of Canadian Pacific Kansas City during the 1st quarter valued at $35,000. Chris Bulman Inc acquired a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter valued at $35,000. Finally, Asset Dedication LLC bought a new stake in Canadian Pacific Kansas City in the third quarter worth $38,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of Canadian Pacific Kansas City stock opened at $76.62 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. The company has a market cap of $71.51 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The firm has a fifty day moving average price of $79.26 and a two-hundred day moving average price of $80.24. Canadian Pacific Kansas City Limited has a fifty-two week low of $71.08 and a fifty-two week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts expect that Canadian Pacific Kansas City Limited will post 3.06 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 19.64%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CP. Stifel Nicolaus cut their target price on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, October 11th. Sanford C. Bernstein lowered their price objective on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Stephens lowered their price target on Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, Bank of America dropped their price target on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.88.

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.