Lorne Steinberg Wealth Management Inc. Grows Holdings in Canadian Pacific Kansas City Limited $CP

Key Points

• Lorne Steinberg Wealth Management Inc. increased its holdings in Canadian Pacific Kansas City Limited by 8.1% during the 2nd quarter, now owning 98,771 shares valued at approximately $7.85 million.
• As of recent reports, the consensus analyst rating for Canadian Pacific Kansas City is a "Moderate Buy", with an average target price of $91.38 per share.
• The company is set to pay an increased quarterly dividend of $0.1651 on October 27, representing an annualized dividend yield of 0.9%.

Lorne Steinberg Wealth Management Inc. boosted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 8.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,771 shares of the transportation company's stock after buying an additional 7,425 shares during the quarter. Canadian Pacific Kansas City makes up approximately 2.1% of Lorne Steinberg Wealth Management Inc.'s investment portfolio, making the stock its 20th biggest holding. Lorne Steinberg Wealth Management Inc.'s holdings in Canadian Pacific Kansas City were worth $7,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CP. North Capital Inc. acquired a new position in shares of Canadian Pacific Kansas City during the 1st quarter worth approximately $27,000. Cornerstone Planning Group LLC boosted its position in Canadian Pacific Kansas City by 209.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company's stock valued at $28,000 after buying an additional 256 shares during the period. Cheviot Value Management LLC acquired a new stake in shares of Canadian Pacific Kansas City in the 1st quarter valued at $30,000. Hexagon Capital Partners LLC raised its stake in Canadian Pacific Kansas City by 49.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company's stock worth $35,000 after acquiring an additional 164 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Canadian Pacific Kansas City in the first quarter valued at $35,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on CP. Wall Street Zen downgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. National Bank Financial upgraded shares of Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 30th. Scotiabank reiterated an "outperform" rating on shares of Canadian Pacific Kansas City in a research note on Thursday, July 10th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Canadian Pacific Kansas City in a research report on Wednesday, October 8th. Finally, Citigroup lowered their price objective on shares of Canadian Pacific Kansas City from $90.00 to $88.00 and set a "buy" rating on the stock in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Canadian Pacific Kansas City presently has an average rating of "Moderate Buy" and a consensus target price of $91.38.

Canadian Pacific Kansas City Trading Up 1.5%

Canadian Pacific Kansas City stock opened at $76.61 on Monday. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $83.65. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average price of $75.44 and a two-hundred day moving average price of $76.72. The stock has a market cap of $69.47 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.76 billion. Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. Canadian Pacific Kansas City's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 EPS. As a group, equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current year.

Canadian Pacific Kansas City Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, September 26th will be paid a $0.1651 dividend. This is an increase from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.66 annualized dividend and a dividend yield of 0.9%. Canadian Pacific Kansas City's payout ratio is 20.56%.

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.

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