Meridian Wealth Management LLC Reduces Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Meridian Wealth Management LLC cut its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,216 shares of the transportation company’s stock after selling 460 shares during the period. Meridian Wealth Management LLC’s holdings in Canadian Pacific Kansas City were worth $305,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CP. Allspring Global Investments Holdings LLC boosted its position in shares of Canadian Pacific Kansas City by 281.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,433,669 shares of the transportation company’s stock valued at $252,912,000 after buying an additional 2,532,519 shares during the last quarter. National Bank of Canada FI boosted its position in Canadian Pacific Kansas City by 84.4% in the third quarter. National Bank of Canada FI now owns 2,945,383 shares of the transportation company’s stock worth $251,778,000 after purchasing an additional 1,348,474 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Canadian Pacific Kansas City by 36.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,869,584 shares of the transportation company’s stock worth $245,403,000 after purchasing an additional 769,202 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Canadian Pacific Kansas City in the third quarter worth about $63,179,000. Finally, Fisher Funds Management LTD purchased a new position in Canadian Pacific Kansas City in the fourth quarter worth about $44,008,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Stock Up 3.6 %

Shares of CP opened at $76.88 on Thursday. The business’s 50 day moving average is $76.60 and its 200 day moving average is $78.51. The company has a market capitalization of $71.78 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. Canadian Pacific Kansas City Limited has a 12-month low of $70.89 and a 12-month high of $91.58. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.26. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. Research analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a $0.1318 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, March 28th. Canadian Pacific Kansas City’s payout ratio is 17.93%.

Analysts Set New Price Targets

Several research analysts have issued reports on CP shares. Barclays dropped their target price on Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Wolfe Research raised Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 target price on the stock in a research report on Wednesday, January 8th. Stephens raised their target price on Canadian Pacific Kansas City from $88.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, January 30th. Finally, Loop Capital cut Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.45.

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.