Canadian Pacific Kansas City Limited (NYSE:CP) is Veritas Asset Management LLP’s 5th Largest Position

Veritas Asset Management LLP reduced its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,189,446 shares of the transportation company’s stock after selling 1,018,693 shares during the quarter. Canadian Pacific Kansas City accounts for 7.6% of Veritas Asset Management LLP’s portfolio, making the stock its 5th largest position. Veritas Asset Management LLP’s holdings in Canadian Pacific Kansas City were worth $809,780,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in Canadian Pacific Kansas City by 1.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,033,968 shares of the transportation company’s stock worth $74,828,000 after buying an additional 10,026 shares in the last quarter. Waverton Investment Management Ltd increased its position in shares of Canadian Pacific Kansas City by 7.1% in the 4th quarter. Waverton Investment Management Ltd now owns 5,305 shares of the transportation company’s stock valued at $384,000 after purchasing an additional 352 shares during the last quarter. Dover Advisors LLC increased its position in shares of Canadian Pacific Kansas City by 45.6% in the 4th quarter. Dover Advisors LLC now owns 9,455 shares of the transportation company’s stock valued at $684,000 after purchasing an additional 2,961 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Canadian Pacific Kansas City in the 4th quarter valued at approximately $408,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Canadian Pacific Kansas City in the 4th quarter valued at approximately $1,429,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Down 1.4 %

Shares of NYSE CP opened at $76.32 on Tuesday. Canadian Pacific Kansas City Limited has a 12-month low of $70.89 and a 12-month high of $91.58. The company has a market capitalization of $71.26 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.00 and a beta of 0.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. The firm’s 50-day moving average is $76.07 and its two-hundred day moving average is $78.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, January 29th. The transportation company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.26. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. Equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a dividend of $0.1318 per share. This represents a $0.53 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, March 28th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 18.62%.

Analysts Set New Price Targets

A number of brokerages have commented on CP. Stephens increased their price objective on shares of Canadian Pacific Kansas City from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Susquehanna cut their price target on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Citigroup lifted their price objective on shares of Canadian Pacific Kansas City from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, January 30th. Finally, Wolfe Research upgraded shares of Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price objective on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.45.

Canadian Pacific Kansas City Company Profile

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.