Lorne Steinberg Wealth Management Inc. Has $6.21 Million Position in Canadian Pacific Kansas City Limited (NYSE:CP)

Lorne Steinberg Wealth Management Inc. cut its holdings in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,844 shares of the transportation company’s stock after selling 689 shares during the quarter. Canadian Pacific Kansas City makes up 2.0% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 20th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Canadian Pacific Kansas City were worth $6,206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CP. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Canadian Pacific Kansas City by 33.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,863 shares of the transportation company’s stock valued at $3,784,000 after buying an additional 11,871 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Canadian Pacific Kansas City in the fourth quarter valued at $105,130,000. Cerity Partners LLC increased its stake in shares of Canadian Pacific Kansas City by 25.8% in the fourth quarter. Cerity Partners LLC now owns 39,053 shares of the transportation company’s stock valued at $3,087,000 after buying an additional 8,002 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Canadian Pacific Kansas City by 2.5% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,215,485 shares of the transportation company’s stock valued at $175,182,000 after buying an additional 54,959 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in shares of Canadian Pacific Kansas City by 66.7% in the fourth quarter. Vontobel Holding Ltd. now owns 17,508 shares of the transportation company’s stock valued at $1,384,000 after buying an additional 7,004 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CP has been the topic of several recent research reports. Evercore ISI decreased their price target on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus raised their price target on Canadian Pacific Kansas City from $82.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Evercore decreased their price target on Canadian Pacific Kansas City from $90.00 to $89.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Bank of America decreased their price target on Canadian Pacific Kansas City from $97.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Jefferies Financial Group decreased their price target on Canadian Pacific Kansas City from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.56.

Canadian Pacific Kansas City Stock Down 0.4 %

Shares of NYSE:CP traded down $0.35 during trading on Friday, hitting $79.04. 960,285 shares of the company’s stock traded hands, compared to its average volume of 2,138,492. 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 current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 0.42. The company has a market cap of $73.75 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. The company has a 50-day moving average price of $79.76 and a 200-day moving average price of $82.72.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Tuesday, July 30th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.31. Canadian Pacific Kansas City had a return on equity of 8.77% and a net margin of 24.45%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter last year, the firm earned $0.62 EPS. Canadian Pacific Kansas City’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, research analysts forecast that Canadian Pacific Kansas City Limited will post 3.11 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a $0.1373 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Pacific Kansas City’s dividend payout ratio is presently 17.31%.

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.