Assetmark Inc. Sells 606 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Assetmark Inc. trimmed its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 47.5% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 670 shares of the transportation company’s stock after selling 606 shares during the quarter. Assetmark Inc.’s holdings in Canadian Pacific Kansas City were worth $47,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Cornerstone Planning Group LLC lifted its position in Canadian Pacific Kansas City by 209.8% during the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. North Capital Inc. purchased a new position in shares of Canadian Pacific Kansas City in the first quarter valued at about $27,000. Bernard Wealth Management Corp. purchased a new position in shares of Canadian Pacific Kansas City in the fourth quarter valued at about $31,000. Hexagon Capital Partners LLC increased its holdings in shares of Canadian Pacific Kansas City by 49.5% in the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company’s stock worth $35,000 after purchasing an additional 164 shares during the last quarter. Finally, Parvin Asset Management LLC bought a new stake in shares of Canadian Pacific Kansas City in the fourth quarter worth about $43,000. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Scotiabank reiterated an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Stephens upped their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Susquehanna reaffirmed a “positive” rating and set a $94.00 price target (up from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. Citigroup upped their price target on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group cut their target price on Canadian Pacific Kansas City from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.30.

Canadian Pacific Kansas City Stock Performance

NYSE:CP opened at $74.31 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The company has a market cap of $68.21 billion, a P/E ratio of 23.15, a P/E/G ratio of 2.05 and a beta of 1.06. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $87.72. The firm’s 50 day moving average is $79.62 and its two-hundred day moving average is $76.95.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the company earned $1.05 EPS. Canadian Pacific Kansas City’s revenue was up 2.7% on a year-over-year basis. Analysts expect that Canadian Pacific Kansas City Limited will post 3.42 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, October 27th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 20.56%.

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.