Canadian Pacific Kansas City Limited $CP Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,068,959 shares of the transportation company’s stock after selling 8,912 shares during the quarter. Bank of Nova Scotia owned about 0.34% of Canadian Pacific Kansas City worth $243,732,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Gabelli Funds LLC increased its holdings in shares of Canadian Pacific Kansas City by 1.2% in the second quarter. Gabelli Funds LLC now owns 43,840 shares of the transportation company’s stock valued at $3,475,000 after buying an additional 500 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in shares of Canadian Pacific Kansas City during the second quarter worth $275,000. Quantum Portfolio Management LLC raised its position in shares of Canadian Pacific Kansas City by 16.2% during the second quarter. Quantum Portfolio Management LLC now owns 6,753 shares of the transportation company’s stock worth $535,000 after purchasing an additional 943 shares during the period. Cresset Asset Management LLC lifted its holdings in shares of Canadian Pacific Kansas City by 2.4% during the second quarter. Cresset Asset Management LLC now owns 11,588 shares of the transportation company’s stock valued at $918,000 after purchasing an additional 277 shares during the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Canadian Pacific Kansas City by 29.7% in the 2nd quarter. Brown Advisory Inc. now owns 19,072 shares of the transportation company’s stock valued at $1,512,000 after purchasing an additional 4,368 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CP shares. Evercore ISI dropped their target price on shares of Canadian Pacific Kansas City from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Jefferies Financial Group set a $90.00 price objective on shares of Canadian Pacific Kansas City in a research report on Thursday, October 30th. National Bankshares reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 18th. Citigroup decreased their target price on Canadian Pacific Kansas City from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Finally, Susquehanna set a $87.00 price target on Canadian Pacific Kansas City in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.69.

Canadian Pacific Kansas City Trading Down 0.4%

Shares of NYSE:CP opened at $73.66 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.54 and a current ratio of 0.63. The stock’s 50-day moving average is $73.35 and its 200-day moving average is $76.21. The company has a market cap of $66.09 billion, a P/E ratio of 22.46, a P/E/G ratio of 1.87 and a beta of 1.11. Canadian Pacific Kansas City Limited has a 52-week low of $66.49 and a 52-week high of $83.65.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, October 29th. The transportation company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.41% and a return on equity of 8.79%. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the company earned $0.99 earnings per share. Equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share 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 26th. Stockholders of record on Wednesday, December 31st will be paid a $0.228 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.91 annualized dividend and a dividend yield of 1.2%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. Canadian Pacific Kansas City’s dividend payout ratio is presently 20.12%.

Canadian Pacific Kansas City 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.