PNC Financial Services Group Inc. Decreases Position in Canadian Pacific Kansas City Limited $CP

PNC Financial Services Group Inc. reduced its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 5.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 207,374 shares of the transportation company’s stock after selling 12,256 shares during the period. PNC Financial Services Group Inc.’s holdings in Canadian Pacific Kansas City were worth $15,447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its position in shares of Canadian Pacific Kansas City by 16.0% in the 1st quarter. Intech Investment Management LLC now owns 21,276 shares of the transportation company’s stock valued at $1,493,000 after buying an additional 2,940 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Canadian Pacific Kansas City in the first quarter valued at $35,000. Sivia Capital Partners LLC purchased a new position in shares of Canadian Pacific Kansas City during the second quarter worth about $206,000. Yousif Capital Management LLC increased its position in shares of Canadian Pacific Kansas City by 8.2% during the second quarter. Yousif Capital Management LLC now owns 12,044 shares of the transportation company’s stock worth $955,000 after purchasing an additional 910 shares in the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of Canadian Pacific Kansas City by 139.4% in the 2nd quarter. Harbour Investments Inc. now owns 2,212 shares of the transportation company’s stock valued at $175,000 after purchasing an additional 1,288 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CP shares. Citigroup dropped their price target on Canadian Pacific Kansas City from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Morgan Stanley upgraded shares of Canadian Pacific Kansas City from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 8th. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Sunday. Susquehanna set a $87.00 price target on shares of Canadian Pacific Kansas City in a research note on Thursday, October 30th. Finally, Evercore dropped their price objective on shares of Canadian Pacific Kansas City from $87.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, January 29th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Canadian Pacific Kansas City Price Performance

Shares of NYSE:CP opened at $83.85 on Wednesday. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $85.15. The company has a 50-day moving average price of $75.18 and a 200 day moving average price of $74.51. The company has a market cap of $75.27 billion, a P/E ratio of 25.96, a PEG ratio of 1.78 and a beta of 1.10. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 0.46.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, January 28th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.04). The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Canadian Pacific Kansas City had a return on equity of 8.88% and a net margin of 27.49%.The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $1.29 earnings per share. Research analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Friday, March 27th will be given a $0.228 dividend. The ex-dividend date is Friday, March 27th. This represents a $0.91 annualized dividend and a yield of 1.1%. Canadian Pacific Kansas City’s dividend payout ratio is presently 20.43%.

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.