Canadian Pacific Kansas City Limited (NYSE:CP) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC trimmed its position in Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 80.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,432 shares of the transportation company's stock after selling 291,637 shares during the quarter. Verition Fund Management LLC's holdings in Canadian Pacific Kansas City were worth $6,196,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust lifted its stake in Canadian Pacific Kansas City by 56.0% in the 3rd quarter. Grove Bank & Trust now owns 362 shares of the transportation company's stock valued at $31,000 after acquiring an additional 130 shares in the last quarter. Tower View Wealth Management LLC raised its stake in shares of Canadian Pacific Kansas City by 0.3% during the 3rd quarter. Tower View Wealth Management LLC now owns 51,550 shares of the transportation company's stock worth $4,410,000 after purchasing an additional 130 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in shares of Canadian Pacific Kansas City by 3.0% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 4,504 shares of the transportation company's stock worth $355,000 after purchasing an additional 131 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of Canadian Pacific Kansas City by 4.7% during the 3rd quarter. Trust Co. of Vermont now owns 3,037 shares of the transportation company's stock worth $260,000 after purchasing an additional 135 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Canadian Pacific Kansas City by 12.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,252 shares of the transportation company's stock worth $107,000 after purchasing an additional 141 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CP shares. Stifel Nicolaus dropped their price objective on Canadian Pacific Kansas City from $83.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday, October 11th. Sanford C. Bernstein decreased their target price on Canadian Pacific Kansas City from $91.98 to $91.25 and set a "market perform" rating on the stock in a report on Wednesday, October 9th. Susquehanna raised Canadian Pacific Kansas City from a "neutral" rating to a "positive" rating and decreased their target price for the stock from $94.00 to $92.00 in a report on Thursday, October 24th. Bank of America decreased their price objective on Canadian Pacific Kansas City from $94.00 to $91.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Finally, Benchmark reaffirmed a "hold" rating on shares of Canadian Pacific Kansas City in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $94.88.

Canadian Pacific Kansas City Trading Down 0.9 %

NYSE CP traded down $0.71 during trading hours on Tuesday, hitting $75.60. 2,283,145 shares of the company were exchanged, compared to its average volume of 3,758,830. The stock has a 50-day moving average price of $78.86 and a 200 day moving average price of $80.14. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a 52 week low of $72.22 and a 52 week high of $91.58. The stock has a market cap of $70.56 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, October 23rd. The transportation company reported $0.99 earnings per share (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 analysts' expectations of $3.59 billion. Canadian Pacific Kansas City had a net margin of 24.50% and a return on equity of 8.78%. The firm's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Friday, December 27th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, December 27th. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.74%. Canadian Pacific Kansas City's dividend payout ratio is presently 19.64%.

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.