Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by MGB Wealth Management LLC

MGB Wealth Management LLC lowered its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 18.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,731 shares of the transportation company’s stock after selling 2,722 shares during the quarter. MGB Wealth Management LLC’s holdings in Canadian Pacific Kansas City were worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Grove Bank & Trust grew its position in shares of Canadian Pacific Kansas City by 56.0% during the third quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after buying an additional 130 shares in the last quarter. Tower View Wealth Management LLC lifted its stake in Canadian Pacific Kansas City by 0.3% during the third quarter. Tower View Wealth Management LLC now owns 51,550 shares of the transportation company’s stock worth $4,410,000 after purchasing an additional 130 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in Canadian Pacific Kansas City by 3.0% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 4,504 shares of the transportation company’s stock worth $355,000 after purchasing an additional 131 shares during the last quarter. Trust Co. of Vermont lifted its stake in Canadian Pacific Kansas City by 4.7% during the third quarter. Trust Co. of Vermont now owns 3,037 shares of the transportation company’s stock worth $260,000 after purchasing an additional 135 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Canadian Pacific Kansas City by 12.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,252 shares of the transportation company’s stock worth $107,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America reduced their price objective on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Evercore ISI raised their price objective on Canadian Pacific Kansas City from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Sanford C. Bernstein reduced 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 research note on Wednesday, October 9th. Stephens reduced their price objective on Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. Finally, Barclays raised their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.68.

Canadian Pacific Kansas City Price Performance

Shares of CP opened at $76.69 on Friday. The firm has a market capitalization of $71.58 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53. Canadian Pacific Kansas City Limited has a one year low of $69.27 and a one year high of $91.58. The stock’s fifty day moving average is $80.34 and its 200-day moving average is $80.45.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.59 billion. Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. Canadian Pacific Kansas City’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. Equities 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 announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Friday, December 27th will be issued a dividend of $0.14 per share. This is a positive change 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 0.73%. The ex-dividend date is Friday, December 27th. Canadian Pacific Kansas City’s payout ratio is presently 20.00%.

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.