QRG Capital Management Inc. Sells 2,258 Shares of Canadian Pacific Kansas City Limited $CP

QRG Capital Management Inc. lessened its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 14.8% during the second quarter, HoldingsChannel.com reports. The fund owned 13,018 shares of the transportation company’s stock after selling 2,258 shares during the period. QRG Capital Management Inc.’s holdings in Canadian Pacific Kansas City were worth $1,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CP. Assenagon Asset Management S.A. boosted its stake in shares of Canadian Pacific Kansas City by 1.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 28,676 shares of the transportation company’s stock valued at $2,012,000 after purchasing an additional 290 shares in the last quarter. CX Institutional purchased a new stake in shares of Canadian Pacific Kansas City in the 1st quarter worth about $61,000. Simon Quick Advisors LLC lifted its position in shares of Canadian Pacific Kansas City by 25.3% in the 1st quarter. Simon Quick Advisors LLC now owns 5,223 shares of the transportation company’s stock worth $367,000 after purchasing an additional 1,056 shares during the period. Sterling Investment Management LLC lifted its position in shares of Canadian Pacific Kansas City by 17.4% in the 1st quarter. Sterling Investment Management LLC now owns 58,513 shares of the transportation company’s stock worth $4,108,000 after purchasing an additional 8,668 shares during the period. Finally, NorthCrest Asset Manangement LLC increased its stake in shares of Canadian Pacific Kansas City by 2.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 223,044 shares of the transportation company’s stock worth $15,660,000 after acquiring an additional 6,046 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Citigroup raised their price objective on shares of Canadian Pacific Kansas City from $89.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. National Bankshares reaffirmed an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, September 18th. National Bank Financial raised shares of Canadian Pacific Kansas City from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 30th. Scotiabank reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a report on Thursday, July 10th. Finally, Barclays set a $90.00 price objective on shares of Canadian Pacific Kansas City and gave the stock an “overweight” rating in a report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and an average price target of $91.85.

Canadian Pacific Kansas City Stock Down 0.1%

Shares of CP opened at $77.68 on Thursday. Canadian Pacific Kansas City Limited has a 12-month low of $66.49 and a 12-month high of $83.65. The firm has a fifty day moving average price of $75.25 and a 200-day moving average price of $76.44. The firm has a market capitalization of $70.45 billion, a P/E ratio of 24.20, a P/E/G ratio of 2.18 and a beta of 1.08. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.45.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the company earned $1.05 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be issued a dividend of $0.1651 per share. This is a positive change from Canadian Pacific Kansas City’s previous quarterly dividend of $0.16. The ex-dividend date is Friday, September 26th. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is 20.56%.

About Canadian Pacific Kansas City

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.