NewEdge Wealth LLC Has $1.62 Million Position in Canadian Pacific Kansas City Limited (NYSE:CP)

NewEdge Wealth LLC grew its position in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 42.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,444 shares of the transportation company’s stock after purchasing an additional 6,688 shares during the quarter. NewEdge Wealth LLC’s holdings in Canadian Pacific Kansas City were worth $1,624,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CP. Whipplewood Advisors LLC acquired a new stake in Canadian Pacific Kansas City in the fourth quarter valued at $192,000. Lingotto Investment Management LLP increased its stake in shares of Canadian Pacific Kansas City by 5.1% in the fourth quarter. Lingotto Investment Management LLP now owns 138,479 shares of the transportation company’s stock valued at $10,022,000 after buying an additional 6,703 shares during the period. Kirtland Hills Capital Management LLC increased its stake in shares of Canadian Pacific Kansas City by 5.4% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 6,578 shares of the transportation company’s stock valued at $476,000 after buying an additional 339 shares during the period. Bank of New York Mellon Corp raised its position in shares of Canadian Pacific Kansas City by 1.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,033,968 shares of the transportation company’s stock worth $74,828,000 after acquiring an additional 10,026 shares during the last quarter. Finally, Waverton Investment Management Ltd lifted its stake in shares of Canadian Pacific Kansas City by 7.1% in the fourth quarter. Waverton Investment Management Ltd now owns 5,305 shares of the transportation company’s stock worth $384,000 after acquiring an additional 352 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Canadian Pacific Kansas City Trading Up 1.7 %

NYSE:CP opened at $77.85 on Friday. Canadian Pacific Kansas City Limited has a one year low of $70.89 and a one year high of $91.58. The company has a market cap of $72.69 billion, a PE ratio of 26.85, a PEG ratio of 2.00 and a beta of 0.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.53 and a quick ratio of 0.46. The firm has a 50-day moving average of $76.46 and a 200-day moving average of $78.57.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings data on Wednesday, January 29th. The transportation company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.66 by $0.26. Canadian Pacific Kansas City had a return on equity of 8.86% and a net margin of 25.51%. As a group, equities research analysts expect that Canadian Pacific Kansas City Limited will post 3.42 EPS for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.1318 per share. This represents a $0.53 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is presently 17.93%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CP shares. 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 research report on Wednesday, January 8th. Susquehanna decreased their price objective on shares of Canadian Pacific Kansas City from $92.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus dropped their target price on shares of Canadian Pacific Kansas City from $82.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, January 16th. StockNews.com downgraded Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a report on Wednesday, December 25th. Finally, Royal Bank of Canada boosted their price objective on Canadian Pacific Kansas City from $124.00 to $128.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.45.

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.