Lorne Steinberg Wealth Management Inc. Boosts Stake in Canadian Pacific Kansas City Limited (NYSE:CP)

Lorne Steinberg Wealth Management Inc. grew its stake in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,946 shares of the transportation company’s stock after buying an additional 11,035 shares during the period. Canadian Pacific Kansas City accounts for 1.9% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 24th biggest position. Lorne Steinberg Wealth Management Inc.’s holdings in Canadian Pacific Kansas City were worth $6,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Tower View Wealth Management LLC raised its holdings in shares of Canadian Pacific Kansas City by 0.3% during the third quarter. Tower View Wealth Management LLC now owns 51,550 shares of the transportation company’s stock worth $4,410,000 after purchasing an additional 130 shares during the last quarter. Pinnacle Bancorp Inc. raised its holdings in shares of Canadian Pacific Kansas City by 13.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 1,250 shares of the transportation company’s stock worth $90,000 after purchasing an additional 150 shares during the last quarter. BKM Wealth Management LLC raised its holdings in shares of Canadian Pacific Kansas City by 2.2% during the fourth quarter. BKM Wealth Management LLC now owns 7,267 shares of the transportation company’s stock worth $526,000 after purchasing an additional 158 shares during the last quarter. Forte Capital LLC ADV raised its holdings in shares of Canadian Pacific Kansas City by 2.4% during the third quarter. Forte Capital LLC ADV now owns 7,415 shares of the transportation company’s stock worth $634,000 after purchasing an additional 173 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Canadian Pacific Kansas City by 12.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,632 shares of the transportation company’s stock worth $118,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wolfe Research raised shares of Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 target price for the company in a report on Wednesday, January 8th. Barclays reduced their target price on shares of Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Bank of America reduced their target price on shares of Canadian Pacific Kansas City from $94.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Citigroup lifted their price objective on shares of Canadian Pacific Kansas City from $88.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Stephens lifted their price objective on shares of Canadian Pacific Kansas City from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy 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 price target of $95.45.

Canadian Pacific Kansas City Stock Up 2.3 %

CP stock opened at $79.30 on Wednesday. The stock has a market capitalization of $74.03 billion, a P/E ratio of 27.34, a P/E/G ratio of 2.02 and a beta of 0.97. The firm has a 50-day simple moving average of $75.85 and a 200-day simple moving average of $78.59. The company has a quick ratio of 0.46, a current ratio of 0.53 and a debt-to-equity ratio of 0.42. Canadian Pacific Kansas City Limited has a 52 week low of $70.89 and a 52 week high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its earnings results on Wednesday, January 29th. The transportation company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.26. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. Equities analysts forecast that Canadian Pacific Kansas City Limited will post 3.4 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.1318 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 0.67%. Canadian Pacific Kansas City’s dividend payout ratio is currently 18.62%.

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.