Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. decreased its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 20.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,808 shares of the transportation company’s stock after selling 2,033 shares during the quarter. Wesbanco Bank Inc.’s holdings in Canadian Pacific Kansas City were worth $615,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Canadian Pacific Kansas City in the first quarter valued at $32,000. Tobam acquired a new position in shares of Canadian Pacific Kansas City during the first quarter worth $51,000. Rational Advisors LLC acquired a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth about $52,000. Partnership Wealth Management LLC purchased a new position in shares of Canadian Pacific Kansas City in the 4th quarter valued at about $52,000. Finally, Northwest Investment Counselors LLC purchased a new position in Canadian Pacific Kansas City in the first quarter valued at approximately $76,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Down 1.1 %

CP stock opened at $77.52 on Friday. Canadian Pacific Kansas City Limited has a 12-month low of $68.92 and a 12-month high of $91.58. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. The company has a market cap of $72.33 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.27 and a beta of 0.96. The company has a 50 day moving average of $79.77 and a two-hundred day moving average of $82.73.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period last year, the business earned $0.62 EPS. The business’s quarterly revenue was up 13.5% on a year-over-year basis. On average, equities analysts anticipate that Canadian Pacific Kansas City Limited will post 3.11 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be paid a $0.1373 dividend. This represents a $0.55 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, September 27th. Canadian Pacific Kansas City’s payout ratio is presently 17.31%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CP shares. Bank of America lowered their price objective on shares of Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Evercore decreased their price target on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Susquehanna reaffirmed a “neutral” rating and set a $80.00 price target on shares of Canadian Pacific Kansas City in a research note on Wednesday, July 31st. Barclays dropped their price objective on Canadian Pacific Kansas City from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Finally, Evercore ISI cut their price objective on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Canadian Pacific Kansas City has a consensus rating of “Moderate Buy” and a consensus price target of $95.70.

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.