Lorne Steinberg Wealth Management Inc. Buys 8,575 Shares of Canadian Pacific Kansas City Limited (NYSE:CP)

Lorne Steinberg Wealth Management Inc. increased its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 12.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,159 shares of the transportation company’s stock after acquiring an additional 8,575 shares during the quarter. Canadian Pacific Kansas City makes up 2.1% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 19th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Canadian Pacific Kansas City were worth $6,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dynamic Advisor Solutions LLC purchased a new position in Canadian Pacific Kansas City during the third quarter valued at $237,000. CWM LLC boosted its stake in Canadian Pacific Kansas City by 13.6% during the third quarter. CWM LLC now owns 17,676 shares of the transportation company’s stock valued at $1,315,000 after buying an additional 2,120 shares during the last quarter. Ronald Blue Trust Inc. raised its position in Canadian Pacific Kansas City by 72.5% during the third quarter. Ronald Blue Trust Inc. now owns 1,513 shares of the transportation company’s stock valued at $123,000 after purchasing an additional 636 shares during the period. AdvisorNet Financial Inc raised its position in Canadian Pacific Kansas City by 452.1% during the third quarter. AdvisorNet Financial Inc now owns 519 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 425 shares during the period. Finally, Ritholtz Wealth Management raised its holdings in shares of Canadian Pacific Kansas City by 3.8% in the third quarter. Ritholtz Wealth Management now owns 6,790 shares of the transportation company’s stock worth $505,000 after buying an additional 249 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CP. Scotiabank reiterated a “sector perform” rating on shares of Canadian Pacific Kansas City in a report on Monday, March 25th. Jefferies Financial Group initiated coverage on Canadian Pacific Kansas City in a research report on Monday, April 8th. They issued a “buy” rating and a $105.00 price objective for the company. Bank of America raised their target price on Canadian Pacific Kansas City from $87.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Stifel Nicolaus boosted their price objective on Canadian Pacific Kansas City from $80.00 to $83.00 and gave the company a “hold” rating in a report on Friday, April 12th. Finally, StockNews.com upgraded Canadian Pacific Kansas City from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $97.22.

Canadian Pacific Kansas City Price Performance

CP traded down $5.26 during midday trading on Wednesday, hitting $82.46. The company had a trading volume of 2,650,095 shares, compared to its average volume of 2,060,888. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.46 and a current ratio of 0.53. The company has a market capitalization of $76.90 billion, a PE ratio of 26.28, a P/E/G ratio of 2.22 and a beta of 0.94. Canadian Pacific Kansas City Limited has a twelve month low of $68.92 and a twelve month high of $91.58. The firm’s 50-day simple moving average is $87.24 and its 200-day simple moving average is $79.71.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Tuesday, January 30th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Canadian Pacific Kansas City had a net margin of 31.29% and a return on equity of 8.52%. Equities research analysts predict that Canadian Pacific Kansas City Limited will post 3.2 EPS for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be paid a $0.1415 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.57 dividend on an annualized basis and a yield of 0.69%. This is a boost from Canadian Pacific Kansas City’s previous quarterly dividend of $0.14. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 17.83%.

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.