Reliant Investment Management LLC Buys 62,045 Shares of Canadian Pacific Kansas City Limited $CP

Reliant Investment Management LLC bought a new stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the third quarter, Holdings Channel.com reports. The institutional investor bought 62,045 shares of the transportation company’s stock, valued at approximately $5,280,000. Canadian Pacific Kansas City accounts for approximately 1.8% of Reliant Investment Management LLC’s investment portfolio, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of CP. Fiduciary Financial Advisors purchased a new position in shares of Canadian Pacific Kansas City during the second quarter valued at $25,000. Jones Financial Companies Lllp acquired a new position in Canadian Pacific Kansas City during the second quarter valued at $44,000. Knuff & Co LLC acquired a new position in Canadian Pacific Kansas City during the second quarter valued at $50,000. Western Wealth Management LLC acquired a new position in Canadian Pacific Kansas City during the first quarter valued at $50,000. Finally, Chilton Capital Management LLC lifted its stake in Canadian Pacific Kansas City by 192.3% in the 2nd quarter. Chilton Capital Management LLC now owns 684 shares of the transportation company’s stock worth $59,000 after acquiring an additional 450 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Up 0.5%

CP stock opened at $86.13 on Thursday. The company has a 50 day moving average of $89.72 and a two-hundred day moving average of $87.79. The company has a market cap of $75.37 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 1.80 and a beta of 1.13. Canadian Pacific Kansas City Limited has a 12-month low of $68.42 and a 12-month high of $96.90. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.47.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Wednesday, July 29th. The transportation company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the company posted $1.12 EPS. Canadian Pacific Kansas City’s revenue was up 12.6% on a year-over-year basis. On average, equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.70 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, September 25th will be issued a dividend of C$0.27 per share. This represents a $1.07 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 25th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 24.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup restated a “cautious” rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, October 7th. Weiss Ratings raised Canadian Pacific Kansas City from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 8th. Wells Fargo & Company upped their target price on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Zacks Research raised shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 30th. Finally, Susquehanna reduced their price target on shares of Canadian Pacific Kansas City from $106.00 to $98.00 and set a “positive” rating for the company in a research report on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and an average target price of $111.83.

About Canadian Pacific Kansas City

Canadian Pacific Kansas City Limited (NYSE:CP) is a North American transportation company that operates a single-line railway linking Canada, the United States and Mexico. Headquartered in Calgary, Alberta, the company provides freight transportation and supply-chain services for customers across its extensive rail network.

CPKC transports a diverse range of products, including grain and fertilizers, coal, forest and industrial products, energy-related materials, automotive shipments, merchandise and intermodal freight.