Wealth Enhancement Advisory Services LLC Lowers Position in Canadian Pacific Kansas City Limited $CP

Wealth Enhancement Advisory Services LLC trimmed its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 9.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,704 shares of the transportation company’s stock after selling 10,413 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Canadian Pacific Kansas City were worth $8,324,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CP. Invesco Ltd. lifted its stake in shares of Canadian Pacific Kansas City by 59.5% in the 1st quarter. Invesco Ltd. now owns 16,984,351 shares of the transportation company’s stock valued at $1,192,471,000 after purchasing an additional 6,337,312 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Canadian Pacific Kansas City by 70.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,299,753 shares of the transportation company’s stock valued at $652,936,000 after buying an additional 3,842,866 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Canadian Pacific Kansas City in the first quarter valued at about $126,928,000. Causeway Capital Management LLC increased its holdings in shares of Canadian Pacific Kansas City by 11.5% in the first quarter. Causeway Capital Management LLC now owns 17,208,788 shares of the transportation company’s stock valued at $1,207,605,000 after purchasing an additional 1,778,984 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Canadian Pacific Kansas City by 44.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company’s stock worth $351,723,000 after buying an additional 1,516,684 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Barclays raised their price objective on Canadian Pacific Kansas City from $87.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Citigroup increased their target price on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. National Bank Financial raised Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. Wall Street Zen lowered Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Finally, Stephens increased their price target on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Canadian Pacific Kansas City presently has an average rating of “Moderate Buy” and a consensus price target of $92.30.

Canadian Pacific Kansas City Stock Down 0.7%

Shares of Canadian Pacific Kansas City stock opened at $74.08 on Wednesday. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $86.84. The stock’s fifty day moving average is $75.69 and its 200-day moving average is $76.33. The firm has a market capitalization of $67.18 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 2.09 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share 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 firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.1651 per share. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Canadian Pacific Kansas City’s dividend payout ratio is currently 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.