Investment Management Corp of Ontario Sells 3,500 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Investment Management Corp of Ontario lessened its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 7.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 41,449 shares of the transportation company’s stock after selling 3,500 shares during the period. Investment Management Corp of Ontario’s holdings in Canadian Pacific Kansas City were worth $3,546,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Bank of Montreal Can grew its position in Canadian Pacific Kansas City by 2.8% during the 2nd quarter. Bank of Montreal Can now owns 19,932,768 shares of the transportation company’s stock worth $1,580,556,000 after acquiring an additional 533,792 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Canadian Pacific Kansas City by 5.5% during the second quarter. 1832 Asset Management L.P. now owns 13,821,347 shares of the transportation company’s stock valued at $1,088,155,000 after purchasing an additional 723,188 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Canadian Pacific Kansas City by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 11,568,212 shares of the transportation company’s stock worth $909,721,000 after purchasing an additional 216,062 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of Canadian Pacific Kansas City by 1.9% during the third quarter. Fiera Capital Corp now owns 5,814,277 shares of the transportation company’s stock worth $497,918,000 after purchasing an additional 107,183 shares during the last quarter. Finally, Cantillon Capital Management LLC increased its stake in shares of Canadian Pacific Kansas City by 9.1% in the third quarter. Cantillon Capital Management LLC now owns 3,705,152 shares of the transportation company’s stock valued at $316,939,000 after buying an additional 310,588 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $75.60 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a twelve month low of $72.22 and a twelve month high of $91.58. The company has a fifty day moving average of $78.86 and a 200-day moving average of $80.14. The firm has a market capitalization of $70.56 billion, a P/E ratio of 27.00, a P/E/G ratio of 2.26 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly 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 period last year, the firm posted $0.69 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be paid a dividend of $0.14 per share. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Pacific Kansas City’s dividend payout ratio is 19.64%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays lifted their target price on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Susquehanna upgraded shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and cut their price target for the stock from $94.00 to $92.00 in a report on Thursday, October 24th. Stephens decreased their price objective on Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Sanford C. Bernstein lowered their target price on Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Finally, Citigroup reduced their price target on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.88.

Canadian Pacific Kansas City Company Profile

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.