NewEdge Wealth LLC Purchases New Position in Canadian Pacific Kansas City Limited $CP

NewEdge Wealth LLC acquired a new position in Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 14,809 shares of the transportation company’s stock, valued at approximately $1,283,000.

A number of other hedge funds have also bought and sold shares of the business. Prosperity Bancshares Inc bought a new stake in Canadian Pacific Kansas City during the 4th quarter valued at $26,000. Gilpin Wealth Management LLC bought a new position in shares of Canadian Pacific Kansas City in the fourth quarter worth $29,000. McMillan Office Inc. purchased a new position in shares of Canadian Pacific Kansas City in the fourth quarter valued at $31,000. Acadian Asset Management LLC purchased a new position in Canadian Pacific Kansas City in the 1st quarter worth $35,000. Finally, Wealth Watch Advisors INC bought a new stake in Canadian Pacific Kansas City in the third quarter worth $36,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Pacific Kansas City Price Performance

CP stock opened at $96.81 on Friday. The stock has a market capitalization of $85.04 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.85 and a beta of 1.10. The firm’s 50-day moving average price is $90.21 and its two-hundred day moving average price is $86.16. The company has a current ratio of 0.59, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. Canadian Pacific Kansas City Limited has a 12-month low of $68.42 and a 12-month high of $96.90.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last posted its earnings results on Wednesday, July 29th. The transportation company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Canadian Pacific Kansas City had a net margin of 25.02% and a return on equity of 9.02%. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the business posted $1.12 earnings per share. Canadian Pacific Kansas City’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities analysts predict that Canadian Pacific Kansas City Limited will post 3.7 earnings per share for the current year.

Canadian Pacific Kansas City Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, September 25th will be given a $0.268 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, September 25th. Canadian Pacific Kansas City’s dividend payout ratio (DPR) is currently 25.08%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Susquehanna raised their price objective on Canadian Pacific Kansas City from $104.00 to $106.00 and gave the company a “positive” rating in a research note on Tuesday, July 14th. Citizens Jmp began coverage on Canadian Pacific Kansas City in a research note on Wednesday, July 15th. They issued a “market perform” rating for the company. Citigroup increased their target price on Canadian Pacific Kansas City from $106.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Barclays set a $102.00 price target on Canadian Pacific Kansas City and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings upgraded Canadian Pacific Kansas City from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.60.

Canadian Pacific Kansas City Company Profile

Canadian Pacific Kansas City (CPKC) is a North American Class I freight railroad formed through the combination of Canadian Pacific Railway and Kansas City Southern. The merged company operates an integrated rail network that spans Canada, the United States and Mexico, providing a single-line rail connection across all three countries. This transborder footprint is intended to streamline cross-border freight flows and provide shippers with direct rail access from Canadian and U.S. production centers to Mexican markets and ports.

CPKC’s core business is freight transportation and related logistics services.