Pinnacle Associates Ltd. Sells 10,802 Shares of Canadian Pacific Kansas City Limited $CP

Pinnacle Associates Ltd. reduced its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 242,981 shares of the transportation company’s stock after selling 10,802 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Canadian Pacific Kansas City were worth $18,100,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd increased its stake in shares of Canadian Pacific Kansas City by 19.4% during the third quarter. Dynamic Technology Lab Private Ltd now owns 31,312 shares of the transportation company’s stock worth $2,332,000 after purchasing an additional 5,093 shares during the period. Guardian Partners Inc. increased its position in Canadian Pacific Kansas City by 3.6% during the 3rd quarter. Guardian Partners Inc. now owns 20,338 shares of the transportation company’s stock worth $1,525,000 after buying an additional 704 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Canadian Pacific Kansas City by 5.7% during the third quarter. Natixis Advisors LLC now owns 641,814 shares of the transportation company’s stock worth $47,809,000 after buying an additional 34,501 shares in the last quarter. Korea Investment CORP boosted its position in shares of Canadian Pacific Kansas City by 6.8% in the third quarter. Korea Investment CORP now owns 650,877 shares of the transportation company’s stock valued at $48,486,000 after acquiring an additional 41,233 shares during the period. Finally, Ameriflex Group Inc. grew its stake in shares of Canadian Pacific Kansas City by 100.0% in the third quarter. Ameriflex Group Inc. now owns 2,250 shares of the transportation company’s stock valued at $168,000 after acquiring an additional 1,125 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CP has been the topic of a number of analyst reports. Scotiabank restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, January 21st. National Bank Financial downgraded Canadian Pacific Kansas City from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Evercore lowered their price objective on Canadian Pacific Kansas City from $87.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, January 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $124.00 target price (down from $127.00) on shares of Canadian Pacific Kansas City in a research report on Thursday, January 29th. Finally, Morgan Stanley upgraded Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 8th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Canadian Pacific Kansas City Stock Performance

Canadian Pacific Kansas City stock opened at $82.93 on Monday. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 0.43. The stock has a market cap of $74.47 billion, a PE ratio of 25.67, a P/E/G ratio of 1.78 and a beta of 1.06. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $89.42. The business’s 50-day moving average price is $78.17 and its two-hundred day moving average price is $75.53.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, January 28th. The transportation company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.04). The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.85 billion. Canadian Pacific Kansas City had a net margin of 27.49% and a return on equity of 8.91%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 earnings per share. As a group, analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Friday, March 27th will be paid a dividend of $0.228 per share. This represents a $0.91 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Pacific Kansas City’s payout ratio is presently 20.43%.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.