Venturi Wealth Management LLC Acquires 2,523 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Venturi Wealth Management LLC boosted its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 67.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,261 shares of the transportation company’s stock after acquiring an additional 2,523 shares during the quarter. Venturi Wealth Management LLC’s holdings in Canadian Pacific Kansas City were worth $536,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CP. Encompass Capital Advisors LLC purchased a new stake in shares of Canadian Pacific Kansas City in the second quarter valued at about $11,810,000. Cetera Investment Advisers boosted its stake in shares of Canadian Pacific Kansas City by 272.0% in the 1st quarter. Cetera Investment Advisers now owns 55,226 shares of the transportation company’s stock worth $4,874,000 after buying an additional 40,380 shares during the last quarter. Magnetar Financial LLC bought a new stake in Canadian Pacific Kansas City during the first quarter worth $2,629,000. Raymond James & Associates boosted its position in Canadian Pacific Kansas City by 1.5% in the second quarter. Raymond James & Associates now owns 778,881 shares of the transportation company’s stock worth $61,321,000 after purchasing an additional 11,416 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Canadian Pacific Kansas City by 398.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,100,382 shares of the transportation company’s stock valued at $165,419,000 after purchasing an additional 1,678,784 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Stock Down 0.6 %

Shares of CP opened at $76.90 on Wednesday. Canadian Pacific Kansas City Limited has a 1 year low of $69.08 and a 1 year high of $91.58. 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 stock has a 50 day simple moving average of $82.07 and a two-hundred day simple moving average of $80.77. The firm has a market cap of $71.77 billion, a P/E ratio of 27.46, a P/E/G ratio of 2.30 and a beta of 0.98.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. Canadian Pacific Kansas City’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 EPS. On average, analysts forecast that Canadian Pacific Kansas City Limited will post 3.06 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s payout ratio is 19.64%.

Analysts Set New Price Targets

CP has been the subject of several research reports. Susquehanna upgraded shares of Canadian Pacific Kansas City from a “neutral” rating to a “positive” rating and reduced their price target for the company from $94.00 to $92.00 in a research report on Thursday, October 24th. Barclays lifted their price target on shares of Canadian Pacific Kansas City from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Bank of America decreased their target price on Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Citigroup lowered their target price on Canadian Pacific Kansas City from $98.00 to $91.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Benchmark restated a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Canadian Pacific Kansas City currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.68.

Canadian Pacific Kansas City 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.