Lorne Steinberg Wealth Management Inc. Purchases 7,425 Shares of Canadian Pacific Kansas City Limited $CP

Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 8.1% during the second quarter, HoldingsChannel reports. The firm owned 98,771 shares of the transportation company’s stock after acquiring an additional 7,425 shares during the quarter. Canadian Pacific Kansas City comprises 2.1% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 20th largest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Canadian Pacific Kansas City were worth $7,852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its holdings in shares of Canadian Pacific Kansas City by 209.8% during the first quarter. Cornerstone Planning Group LLC now owns 378 shares of the transportation company’s stock worth $28,000 after buying an additional 256 shares in the last quarter. North Capital Inc. bought a new stake in shares of Canadian Pacific Kansas City in the 1st quarter valued at about $27,000. Cheviot Value Management LLC acquired a new stake in shares of Canadian Pacific Kansas City in the first quarter valued at approximately $30,000. Hexagon Capital Partners LLC boosted its position in Canadian Pacific Kansas City by 49.5% during the first quarter. Hexagon Capital Partners LLC now owns 495 shares of the transportation company’s stock worth $35,000 after purchasing an additional 164 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Canadian Pacific Kansas City in the 1st quarter valued at about $35,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Stock Up 1.5%

CP opened at $76.61 on Monday. The firm has a market capitalization of $69.47 billion, a P/E ratio of 23.87, a PEG ratio of 2.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.93 and a quick ratio of 0.81. The company’s 50-day moving average is $75.44 and its 200 day moving average is $76.72. Canadian Pacific Kansas City Limited has a fifty-two week low of $66.49 and a fifty-two week high of $83.65.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last announced its earnings results on Wednesday, July 30th. The transportation company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). Canadian Pacific Kansas City had a net margin of 28.05% and a return on equity of 8.69%. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, September 26th will be issued a dividend of $0.1651 per share. This is a positive change 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 dividend on an annualized basis and a yield of 0.9%. Canadian Pacific Kansas City’s payout ratio is currently 20.56%.

Analyst Ratings Changes

CP has been the subject of a number of recent research reports. Scotiabank reissued an “outperform” rating on shares of Canadian Pacific Kansas City in a research report on Thursday, July 10th. National Bankshares restated an “outperform” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, September 18th. Barclays set a $90.00 price target on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Canadian Pacific Kansas City in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. One equities research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Canadian Pacific Kansas City presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.38.

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.