PNC Financial Services Group Inc. Sells 7,501 Shares of Canadian Pacific Kansas City Limited $CP

PNC Financial Services Group Inc. decreased its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 3.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 219,630 shares of the transportation company’s stock after selling 7,501 shares during the period. PNC Financial Services Group Inc.’s holdings in Canadian Pacific Kansas City were worth $17,410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CP. Vanderbilt University boosted its stake in shares of Canadian Pacific Kansas City by 10.3% in the 2nd quarter. Vanderbilt University now owns 75,452 shares of the transportation company’s stock valued at $5,982,000 after purchasing an additional 7,050 shares in the last quarter. Ninety One North America Inc. grew its stake in shares of Canadian Pacific Kansas City by 135.7% during the second quarter. Ninety One North America Inc. now owns 206,785 shares of the transportation company’s stock valued at $16,394,000 after buying an additional 119,052 shares during the last quarter. Key Financial Inc purchased a new position in shares of Canadian Pacific Kansas City in the second quarter worth about $371,000. Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in shares of Canadian Pacific Kansas City by 2.2% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 648,343 shares of the transportation company’s stock valued at $51,410,000 after acquiring an additional 14,260 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in Canadian Pacific Kansas City by 0.7% during the 2nd quarter. TD Asset Management Inc now owns 21,002,374 shares of the transportation company’s stock valued at $1,665,106,000 after acquiring an additional 136,970 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Trading Down 0.8%

NYSE:CP opened at $70.60 on Friday. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $83.65. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $74.41 and a 200-day moving average price of $76.77. The stock has a market cap of $63.34 billion, a price-to-earnings ratio of 21.52, a P/E/G ratio of 2.04 and a beta of 1.08.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, October 29th. The transportation company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.01). The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Canadian Pacific Kansas City had a return on equity of 8.79% and a net margin of 28.41%.During the same quarter last year, the business earned $0.99 earnings per share. Equities analysts predict 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 declared a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Wednesday, December 31st will be given a dividend of $0.228 per share. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.17. This represents a $0.91 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Canadian Pacific Kansas City’s dividend payout ratio is presently 20.12%.

Wall Street Analyst Weigh In

CP has been the topic of a number of analyst reports. Jefferies Financial Group set a $90.00 price target on Canadian Pacific Kansas City in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 30th. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. Royal Bank Of Canada dropped their price target on shares of Canadian Pacific Kansas City from $129.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Finally, Susquehanna set a $87.00 price objective on shares of Canadian Pacific Kansas City in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.69.

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.