MGB Wealth Management LLC Has $208,000 Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Key Points

• MGB Wealth Management LLC reduced its holdings in Canadian Pacific Kansas City Limited by 65.8%, owning 2,993 shares valued at $208,000 after selling 5,758 shares in the first quarter.
• The company's recent earnings report showed a 0.81 earnings per share, missing the consensus estimate, while revenue was recorded at $2.72 billion, slightly below expectations.
• Canadian Pacific Kansas City announced a quarterly dividend increase to $0.1651, with an ex-dividend date of September 26, reflecting a 0.9% dividend yield for stockholders.

MGB Wealth Management LLC trimmed its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP - Free Report) TSE: CP by 65.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,993 shares of the transportation company's stock after selling 5,758 shares during the quarter. MGB Wealth Management LLC's holdings in Canadian Pacific Kansas City were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Causeway Capital Management LLC increased its position in shares of Canadian Pacific Kansas City by 76.5% in the fourth quarter. Causeway Capital Management LLC now owns 15,429,804 shares of the transportation company's stock worth $1,116,632,000 after purchasing an additional 6,687,770 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Canadian Pacific Kansas City during the first quarter valued at $126,928,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Canadian Pacific Kansas City by 44.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,950,353 shares of the transportation company's stock valued at $351,723,000 after acquiring an additional 1,516,684 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Canadian Pacific Kansas City by 11.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,433,380 shares of the transportation company's stock worth $899,805,000 after buying an additional 1,262,913 shares in the last quarter. Finally, Consulta Ltd boosted its position in Canadian Pacific Kansas City by 78.6% in the fourth quarter. Consulta Ltd now owns 2,500,000 shares of the transportation company's stock worth $180,925,000 after purchasing an additional 1,100,000 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on CP shares. The Goldman Sachs Group reissued a "neutral" rating and issued a $91.00 price target on shares of Canadian Pacific Kansas City in a report on Monday, June 2nd. National Bank Financial raised Canadian Pacific Kansas City from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 30th. Citigroup upped their target price on Canadian Pacific Kansas City from $89.00 to $94.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Susquehanna restated a "positive" rating and issued a $94.00 target price (up previously from $90.00) on shares of Canadian Pacific Kansas City in a research report on Tuesday, June 24th. Finally, Wall Street Zen cut Canadian Pacific Kansas City from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $92.30.

Canadian Pacific Kansas City Stock Performance

Shares of NYSE:CP traded down $0.79 during trading on Monday, hitting $74.23. The company's stock had a trading volume of 775,270 shares, compared to its average volume of 3,234,104. The firm has a market cap of $67.82 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 2.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81. Canadian Pacific Kansas City Limited has a 12 month low of $66.49 and a 12 month high of $87.72. The company has a 50-day moving average of $79.18 and a 200-day moving average of $76.89.

Canadian Pacific Kansas City (NYSE:CP - Get Free Report) TSE: CP last announced its earnings results on Wednesday, July 30th. The transportation company reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). Canadian Pacific Kansas City had a return on equity of 8.69% and a net margin of 28.05%. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share 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. Shareholders of record on Friday, September 26th will be given a dividend of $0.1651 per share. The ex-dividend date is Friday, September 26th. This is a positive change from Canadian Pacific Kansas City's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. Canadian Pacific Kansas City's dividend payout ratio (DPR) is presently 20.25%.

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.