The Manufacturers Life Insurance Company Decreases Stock Holdings in Canadian Pacific Kansas City Limited $CP

The Manufacturers Life Insurance Company lowered its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 6.2% during the second quarter, Holdings Channel.com reports. The fund owned 7,600,778 shares of the transportation company’s stock after selling 502,365 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Canadian Pacific Kansas City were worth $657,672,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CP. Intech Investment Management LLC lifted its holdings in Canadian Pacific Kansas City by 16.0% during the first quarter. Intech Investment Management LLC now owns 21,276 shares of the transportation company’s stock valued at $1,493,000 after purchasing an additional 2,940 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Canadian Pacific Kansas City during the first quarter worth about $35,000. Sivia Capital Partners LLC purchased a new stake in shares of Canadian Pacific Kansas City during the second quarter worth about $206,000. Prudential Financial Inc. raised its position in shares of Canadian Pacific Kansas City by 8.7% during the 2nd quarter. Prudential Financial Inc. now owns 5,183 shares of the transportation company’s stock worth $411,000 after purchasing an additional 415 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Canadian Pacific Kansas City by 39.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,307 shares of the transportation company’s stock worth $104,000 after purchasing an additional 369 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Down 1.3%

CP opened at $88.93 on Friday. The firm has a market capitalization of $78.11 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. The company’s 50 day simple moving average is $91.68 and its two-hundred day simple moving average is $87.19. Canadian Pacific Kansas City Limited has a 1-year low of $68.42 and a 1-year high of $96.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.50.

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 return on equity of 9.02% and a net margin of 25.02%.The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the firm earned $1.12 earnings per share. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. Analysts expect that Canadian Pacific Kansas City Limited will post 3.72 EPS for the current fiscal year.

Canadian Pacific Kansas City Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Friday, September 25th will be issued a $0.268 dividend. This represents a $1.07 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 25th. Canadian Pacific Kansas City’s dividend payout ratio is presently 25.08%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CP. Evercore set a $99.00 price target on shares of Canadian Pacific Kansas City in a research note on Thursday, July 30th. Citigroup increased their target price on Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Citizens Jmp assumed coverage on Canadian Pacific Kansas City in a research report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Wells Fargo & Company lifted their price target on Canadian Pacific Kansas City from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Finally, Barclays set a $102.00 price target on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $108.60.

Canadian Pacific Kansas City Profile

Canadian Pacific Kansas City Limited (NYSE: CP) is a North American transportation company that operates the Canadian Pacific Kansas City (CPKC) railway. Headquartered in Calgary, Alberta, the company provides rail transportation and logistics services for freight customers across Canada, the United States and Mexico.

CPKC transports a broad range of commodities and products, including grain and fertilizers, coal, energy and chemicals, forest products, metals and minerals, automotive goods, industrial and consumer products, and intermodal freight.