Clearbridge Investments LLC Sells 975,041 Shares of Canadian Pacific Kansas City Limited $CP

Clearbridge Investments LLC cut its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 27.3% in the 4th quarter, HoldingsChannel reports. The firm owned 2,595,766 shares of the transportation company’s stock after selling 975,041 shares during the period. Clearbridge Investments LLC’s holdings in Canadian Pacific Kansas City were worth $191,126,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CP. Norges Bank bought a new stake in Canadian Pacific Kansas City during the fourth quarter valued at approximately $978,558,000. Invesco Ltd. lifted its position in Canadian Pacific Kansas City by 18.3% during the third quarter. Invesco Ltd. now owns 23,128,485 shares of the transportation company’s stock valued at $1,722,841,000 after purchasing an additional 3,585,030 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Canadian Pacific Kansas City by 206.0% during the fourth quarter. BNP Paribas Financial Markets now owns 2,830,409 shares of the transportation company’s stock valued at $208,403,000 after purchasing an additional 1,905,302 shares during the last quarter. Cibc World Market Inc. lifted its position in Canadian Pacific Kansas City by 21.9% during the fourth quarter. Cibc World Market Inc. now owns 8,433,042 shares of the transportation company’s stock valued at $620,925,000 after purchasing an additional 1,517,323 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in Canadian Pacific Kansas City by 281.2% during the third quarter. Lazard Asset Management LLC now owns 1,379,393 shares of the transportation company’s stock valued at $102,711,000 after purchasing an additional 1,017,576 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Canadian Pacific Kansas City Trading Up 0.2%

Shares of CP opened at $90.07 on Monday. The firm has a market cap of $79.91 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.92 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.57 and a current ratio of 0.67. Canadian Pacific Kansas City Limited has a fifty-two week low of $68.42 and a fifty-two week high of $91.50. The firm has a 50 day moving average price of $84.36 and a 200-day moving average price of $79.54.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.70 billion. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 27.20%.The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 earnings per share. As a group, equities research analysts forecast that Canadian Pacific Kansas City Limited will post 3.76 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 27th. Stockholders of record on Friday, June 26th will be issued a $0.268 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, June 26th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.23. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 20.68%.

Analyst Upgrades and Downgrades

CP has been the subject of several research analyst reports. ATB Cormark Capital Markets lowered shares of Canadian Pacific Kansas City from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, April 17th. Wall Street Zen upgraded shares of Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Barclays set a $99.00 price objective on shares of Canadian Pacific Kansas City and gave the stock an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a report on Friday, May 29th. Finally, Sanford C. Bernstein boosted their price objective on shares of Canadian Pacific Kansas City from $85.41 to $90.00 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $98.63.

Canadian Pacific Kansas City Profile

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.