Merit Financial Group LLC Grows Stock Holdings in Canadian Pacific Kansas City Limited (NYSE:CP)

Merit Financial Group LLC increased its stake in shares of Canadian Pacific Kansas City Limited (NYSE:CP) (TSE:CP) by 103.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,104 shares of the transportation company’s stock after buying an additional 4,118 shares during the period. Merit Financial Group LLC’s holdings in Canadian Pacific Kansas City were worth $569,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in Canadian Pacific Kansas City during the fourth quarter worth about $2,602,000. Phraction Management LLC raised its position in Canadian Pacific Kansas City by 53.6% during the fourth quarter. Phraction Management LLC now owns 13,306 shares of the transportation company’s stock worth $963,000 after acquiring an additional 4,641 shares during the last quarter. Gallo Partners LP acquired a new position in Canadian Pacific Kansas City during the fourth quarter worth about $4,373,000. LPL Financial LLC raised its position in Canadian Pacific Kansas City by 34.4% during the fourth quarter. LPL Financial LLC now owns 258,075 shares of the transportation company’s stock worth $18,677,000 after acquiring an additional 66,125 shares during the last quarter. Finally, Quilter Plc raised its position in shares of Canadian Pacific Kansas City by 10.9% in the fourth quarter. Quilter Plc now owns 1,203,968 shares of the transportation company’s stock valued at $87,062,000 after buying an additional 118,753 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Canadian Pacific Kansas City Price Performance

CP opened at $81.67 on Tuesday. 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 $66.49 and a 52-week high of $87.72. The company has a 50 day moving average of $76.04 and a two-hundred day moving average of $75.66. The company has a market cap of $75.99 billion, a P/E ratio of 28.16, a P/E/G ratio of 2.00 and a beta of 1.10.

Canadian Pacific Kansas City (NYSE:CP) (TSE:CP) last released its quarterly earnings data on Wednesday, April 30th. The transportation company reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. Canadian Pacific Kansas City had a net margin of 25.51% and a return on equity of 8.86%. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm earned $0.93 earnings per share. Canadian Pacific Kansas City’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts expect that Canadian Pacific Kansas City Limited will post 3.42 earnings per share for the current year.

Canadian Pacific Kansas City Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.1644 per share. This is an increase from Canadian Pacific Kansas City’s previous quarterly dividend of $0.13. This represents a $0.66 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Pacific Kansas City’s payout ratio is currently 22.30%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Canadian Pacific Kansas City from $85.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada reduced their price objective on shares of Canadian Pacific Kansas City from $122.00 to $121.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Susquehanna upped their price objective on shares of Canadian Pacific Kansas City from $88.00 to $90.00 and gave the company a “positive” rating in a research note on Thursday, May 1st. Barclays reduced their price objective on shares of Canadian Pacific Kansas City from $91.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Finally, Jefferies Financial Group reduced their price objective on shares of Canadian Pacific Kansas City from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.66.

Canadian Pacific Kansas City Company Profile

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.