Sterling Investment Management LLC Decreases Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Sterling Investment Management LLC reduced its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 6.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 50,627 shares of the transportation company’s stock after selling 3,471 shares during the quarter. Canadian Pacific Kansas City makes up about 3.3% of Sterling Investment Management LLC’s portfolio, making the stock its 5th largest position. Sterling Investment Management LLC’s holdings in Canadian Pacific Kansas City were worth $4,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CP. Grove Bank & Trust boosted its position in shares of Canadian Pacific Kansas City by 56.0% in 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 acquired a new position in Canadian Pacific Kansas City in the first quarter valued at about $32,000. Chris Bulman Inc acquired a new position in Canadian Pacific Kansas City in the second quarter valued at about $35,000. Asset Dedication LLC bought a new position in Canadian Pacific Kansas City during the third quarter worth about $38,000. Finally, ORG Partners LLC acquired a new position in shares of Canadian Pacific Kansas City during the 2nd quarter worth about $39,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CP shares. Susquehanna boosted their price objective on shares of Canadian Pacific Kansas City from $80.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Stifel Nicolaus decreased their price target on shares of 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. Evercore ISI upped their price objective on shares of Canadian Pacific Kansas City from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Barclays lifted their target price on Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Finally, Citigroup initiated coverage on Canadian Pacific Kansas City in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price target for the company. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average price target of $97.90.

Canadian Pacific Kansas City Stock Down 1.4 %

NYSE:CP opened at $80.08 on Monday. The stock’s 50 day moving average price is $82.83 and its two-hundred day moving average price is $81.63. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $74.72 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Tuesday, July 30th. The transportation company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.2 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a $0.1373 dividend. This represents a $0.55 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 17.31%.

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.