Canoe Financial LP Has $261.01 Million Stock Position in Canadian National Railway Company $CNI

Canoe Financial LP grew its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,768,282 shares of the transportation company’s stock after buying an additional 156,027 shares during the period. Canadian National Railway accounts for about 3.7% of Canoe Financial LP’s investment portfolio, making the stock its 4th largest position. Canoe Financial LP owned about 0.45% of Canadian National Railway worth $261,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bennett Selby Investments LP increased its holdings in Canadian National Railway by 2.2% in the 2nd quarter. Bennett Selby Investments LP now owns 4,796 shares of the transportation company’s stock valued at $499,000 after acquiring an additional 101 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Canadian National Railway by 13.4% during the second quarter. Creative Financial Designs Inc. ADV now owns 929 shares of the transportation company’s stock valued at $97,000 after purchasing an additional 110 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Canadian National Railway by 3.3% in the second quarter. IFP Advisors Inc now owns 3,582 shares of the transportation company’s stock worth $373,000 after purchasing an additional 115 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of Canadian National Railway by 5.3% in the second quarter. D.A. Davidson & CO. now owns 2,374 shares of the transportation company’s stock worth $247,000 after buying an additional 119 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Canadian National Railway by 1.9% during the second quarter. M&T Bank Corp now owns 6,629 shares of the transportation company’s stock valued at $690,000 after buying an additional 122 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

CNI has been the topic of a number of research reports. Barclays reduced their price objective on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 2nd. Wells Fargo & Company reduced their price target on shares of Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, October 6th. Susquehanna increased their price objective on shares of Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a research report on Monday, November 3rd. Citigroup lifted their price target on Canadian National Railway from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, CIBC raised Canadian National Railway from a “neutral” rating to an “outperformer” rating and boosted their target price for the company from $146.00 to $151.00 in a research report on Friday, November 28th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Canadian National Railway currently has an average rating of “Moderate Buy” and a consensus target price of $117.36.

Canadian National Railway Stock Down 0.3%

Shares of NYSE:CNI opened at $98.50 on Friday. The firm has a market capitalization of $60.62 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.22 and a beta of 0.96. The business has a 50 day simple moving average of $96.01 and a two-hundred day simple moving average of $97.11. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $108.75. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.60 and a quick ratio of 0.42.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. Canadian National Railway had a return on equity of 21.50% and a net margin of 26.86%.The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company earned $1.72 EPS. Canadian National Railway’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be paid a dividend of $0.8875 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, December 9th. Canadian National Railway’s payout ratio is presently 48.01%.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.