Washington Trust Bank Reduces Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Washington Trust Bank trimmed its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 23.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,247 shares of the transportation company’s stock after selling 1,021 shares during the period. Washington Trust Bank’s holdings in Canadian Pacific Kansas City were worth $278,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Grove Bank & Trust increased its position in shares of Canadian Pacific Kansas City by 56.0% during the 3rd quarter. Grove Bank & Trust now owns 362 shares of the transportation company’s stock worth $31,000 after purchasing an additional 130 shares during the last quarter. LRI Investments LLC purchased a new position in Canadian Pacific Kansas City during the first quarter worth about $32,000. Chris Bulman Inc acquired a new stake in shares of Canadian Pacific Kansas City during the second quarter valued at about $35,000. Asset Dedication LLC acquired a new stake in shares of Canadian Pacific Kansas City during the third quarter valued at about $38,000. Finally, ORG Partners LLC purchased a new stake in shares of Canadian Pacific Kansas City in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CP shares. Bank of America cut their target price on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Jefferies Financial Group cut their price objective on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Stifel Nicolaus lowered their target price on Canadian Pacific Kansas City from $83.00 to $82.00 and set a “hold” rating for the company in a report on Friday, October 11th. Sanford C. Bernstein cut their price target on shares of Canadian Pacific Kansas City from $91.98 to $91.25 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Finally, Stephens lowered their price objective on shares of Canadian Pacific Kansas City from $85.00 to $81.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.15.

Canadian Pacific Kansas City Stock Up 0.9 %

Shares of Canadian Pacific Kansas City stock traded up $0.69 during trading on Thursday, hitting $79.18. 105,070 shares of the stock were exchanged, compared to its average volume of 2,123,107. The stock has a market cap of $73.90 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 2.29 and a beta of 0.98. The firm’s 50-day moving average price is $82.36 and its 200 day moving average price is $80.94. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. Canadian Pacific Kansas City Limited has a 12-month low of $69.08 and a 12-month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Canadian Pacific Kansas City had a return on equity of 8.78% and a net margin of 24.50%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts forecast that Canadian Pacific Kansas City Limited will post 3.05 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.56 dividend on an annualized basis and a yield of 0.71%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 20.00%.

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.