Canadian Pacific Kansas City Limited (NYSE:CP) Shares Acquired by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. boosted its position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,159 shares of the transportation company’s stock after buying an additional 8,575 shares during the quarter. Canadian Pacific Kansas City makes up about 2.1% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Canadian Pacific Kansas City were worth $6,185,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Canadian Pacific Kansas City by 1.5% in the third quarter. Vanguard Group Inc. now owns 33,752,798 shares of the transportation company’s stock worth $2,511,546,000 after purchasing an additional 483,138 shares during the period. FMR LLC grew its position in shares of Canadian Pacific Kansas City by 1.8% during the 3rd quarter. FMR LLC now owns 31,001,865 shares of the transportation company’s stock valued at $2,304,549,000 after buying an additional 553,163 shares during the last quarter. Mackenzie Financial Corp raised its stake in Canadian Pacific Kansas City by 5.9% during the fourth quarter. Mackenzie Financial Corp now owns 14,178,436 shares of the transportation company’s stock worth $1,122,370,000 after acquiring an additional 787,608 shares during the period. CIBC Asset Management Inc lifted its holdings in Canadian Pacific Kansas City by 0.9% in the third quarter. CIBC Asset Management Inc now owns 9,536,530 shares of the transportation company’s stock worth $711,045,000 after acquiring an additional 86,525 shares during the last quarter. Finally, Bank of Nova Scotia boosted its stake in Canadian Pacific Kansas City by 0.4% in the third quarter. Bank of Nova Scotia now owns 8,305,174 shares of the transportation company’s stock valued at $617,332,000 after acquiring an additional 36,287 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Canadian Pacific Kansas City Trading Down 6.0 %

CP traded down $5.26 during mid-day trading on Wednesday, reaching $82.46. The stock had a trading volume of 2,650,095 shares, compared to its average volume of 2,060,888. The firm’s fifty day simple moving average is $87.24 and its two-hundred day simple moving average is $79.71. The stock has a market capitalization of $76.90 billion, a P/E 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 52 week low of $68.92 and a 52 week high of $91.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.46 and a current ratio of 0.53.

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

Canadian Pacific Kansas City Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on CP shares. Jefferies Financial Group assumed coverage on Canadian Pacific Kansas City in a research report on Monday, April 8th. They set a “buy” rating and a $105.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Canadian Pacific Kansas City from $80.00 to $83.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Bank of America upped their target price on shares of Canadian Pacific Kansas City from $87.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Pacific Kansas City in a report on Monday, March 25th. Finally, Susquehanna Bancshares lowered Canadian Pacific Kansas City from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $90.00 to $87.00 in a report on Monday, January 8th. Twelve investment 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.com, Canadian Pacific Kansas City presently has an average rating of “Hold” and a consensus target price of $97.22.

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.