NewEdge Wealth LLC Raises Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

NewEdge Wealth LLC increased its holdings in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 42.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,444 shares of the transportation company’s stock after buying 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 filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CP. S&CO Inc. increased its position in Canadian Pacific Kansas City by 183.3% in the third quarter. S&CO Inc. now owns 17,000 shares of the transportation company’s stock worth $1,454,000 after buying an additional 11,000 shares during the last quarter. Swiss National Bank boosted its position in shares of Canadian Pacific Kansas City by 0.8% in the third quarter. Swiss National Bank now owns 2,820,893 shares of the transportation company’s stock valued at $241,645,000 after acquiring an additional 23,000 shares during the period. Oak Family Advisors LLC bought a new position in Canadian Pacific Kansas City in the 4th quarter valued at $262,000. Barclays PLC grew its position in Canadian Pacific Kansas City by 2.8% during the third quarter. Barclays PLC now owns 2,929,642 shares of the transportation company’s stock worth $250,602,000 after buying an additional 81,111 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Canadian Pacific Kansas City by 20.4% during the third quarter. Toronto Dominion Bank now owns 2,083,106 shares of the transportation company’s stock worth $178,189,000 after purchasing an additional 352,534 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

CP opened at $77.85 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 0.42. The company has a market cap of $72.69 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 2.00 and a beta of 0.97. The stock has a fifty day simple moving average of $76.46 and a two-hundred day simple moving average of $78.57. Canadian Pacific Kansas City Limited has a 12-month low of $70.89 and a 12-month high of $91.58.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last issued its quarterly earnings results on Wednesday, January 29th. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Research analysts predict that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current fiscal year.

Canadian Pacific Kansas City Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.1318 per share. The ex-dividend date is Friday, March 28th. This represents a $0.53 annualized dividend and a dividend yield of 0.68%. Canadian Pacific Kansas City’s payout ratio is 17.93%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CP. Benchmark reissued a “hold” rating on shares of Canadian Pacific Kansas City in a research note on Thursday, January 30th. StockNews.com downgraded shares of Canadian Pacific Kansas City from a “hold” rating to a “sell” rating in a research note on Wednesday, December 25th. Loop Capital cut shares of Canadian Pacific Kansas City from a “buy” rating to a “sell” rating in a research report on Monday, February 3rd. Wolfe Research upgraded shares of Canadian Pacific Kansas City from a “peer perform” rating to an “outperform” rating and set a $86.00 price objective on the stock in a research report on Wednesday, January 8th. Finally, Barclays lowered their price objective on shares of Canadian Pacific Kansas City from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Two investment 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, the stock presently has an average rating of “Moderate Buy” and an average target price 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.