Bank of Nova Scotia Sells 1,434,122 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Bank of Nova Scotia cut its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 32.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,050,397 shares of the transportation company's stock after selling 1,434,122 shares during the quarter. Bank of Nova Scotia owned 0.33% of Canadian Pacific Kansas City worth $220,829,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of CP. Benjamin Edwards Inc. bought a new stake in Canadian Pacific Kansas City during the third quarter worth approximately $235,000. Quantinno Capital Management LP boosted its stake in shares of Canadian Pacific Kansas City by 10.0% during the 3rd quarter. Quantinno Capital Management LP now owns 48,544 shares of the transportation company's stock worth $4,156,000 after acquiring an additional 4,425 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Canadian Pacific Kansas City by 0.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,281,281 shares of the transportation company's stock worth $195,326,000 after acquiring an additional 5,781 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Canadian Pacific Kansas City by 74.6% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 10,432 shares of the transportation company's stock worth $892,000 after acquiring an additional 4,458 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Canadian Pacific Kansas City during the third quarter worth $221,000. Institutional investors own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

CP has been the topic of a number of analyst reports. Susquehanna dropped their price target on Canadian Pacific Kansas City from $90.00 to $88.00 and set a "positive" rating on the stock in a research note on Thursday, March 27th. Loop Capital downgraded shares of Canadian Pacific Kansas City from a "buy" rating to a "sell" rating in a research report on Monday, February 3rd. Argus set a $90.00 price target on shares of Canadian Pacific Kansas City in a research report on Wednesday, March 26th. Citigroup lowered their price objective on shares of Canadian Pacific Kansas City from $91.00 to $84.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Benchmark restated a "hold" rating on shares of Canadian Pacific Kansas City in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $93.55.

Canadian Pacific Kansas City Stock Up 3.4 %

Shares of NYSE CP traded up $2.42 during trading hours on Friday, hitting $73.63. The stock had a trading volume of 4,606,826 shares, compared to its average volume of 2,692,661. The firm's 50-day moving average price is $74.62 and its two-hundred day moving average price is $76.19. Canadian Pacific Kansas City Limited has a 52 week low of $66.49 and a 52 week high of $88.31. The company has a market capitalization of $68.74 billion, a P/E ratio of 25.39, a P/E/G ratio of 2.00 and a beta of 1.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.46 and a current ratio of 0.53.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last posted its earnings results on Wednesday, January 29th. The transportation company reported $0.92 EPS for the quarter, topping the consensus estimate 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%. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders 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 0.72%. The ex-dividend date is Friday, March 28th. Canadian Pacific Kansas City's payout ratio is 17.93%.

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.