Portside Wealth Group LLC Boosts Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Portside Wealth Group LLC lifted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 49.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,271 shares of the transportation company’s stock after buying an additional 2,399 shares during the period. Portside Wealth Group LLC’s holdings in Canadian Pacific Kansas City were worth $572,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. LRI Investments LLC bought a new stake in Canadian Pacific Kansas City in the first quarter worth about $32,000. ORG Partners LLC bought a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter worth approximately $39,000. Tobam purchased a new position in Canadian Pacific Kansas City in the first quarter valued at approximately $51,000. Rational Advisors LLC bought a new position in Canadian Pacific Kansas City during the first quarter valued at $52,000. Finally, Partnership Wealth Management LLC bought a new position in Canadian Pacific Kansas City during the fourth quarter valued at $52,000. 72.20% of the stock is owned by institutional investors.

Canadian Pacific Kansas City Price Performance

Shares of CP traded down $0.35 during midday trading on Friday, reaching $79.04. The stock had a trading volume of 986,933 shares, compared to its average volume of 2,138,492. The company has a market capitalization of $73.75 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a 12-month low of $68.92 and a 12-month high of $91.58. The company’s 50-day moving average is $79.79 and its 200 day moving average is $82.72.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Canadian Pacific Kansas City had a net margin of 24.45% and a return on equity of 8.77%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share. On average, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.11 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a $0.1373 dividend. This represents a $0.55 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.31%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stifel Nicolaus upped their price target on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company began coverage on shares of Canadian Pacific Kansas City in a research report on Friday, June 7th. They set an “overweight” rating and a $90.00 target price for the company. Benchmark reiterated a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, April 25th. Sanford C. Bernstein upped their price target on shares of Canadian Pacific Kansas City from $88.50 to $89.06 and gave the company a “market perform” rating in a research note on Monday, July 8th. Finally, Evercore reduced their price objective on shares of Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

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.