Hillsdale Investment Management Inc. Grows Stock Holdings in Canadian National Railway Company $CNI

Hillsdale Investment Management Inc. raised its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 37.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 30,972 shares of the transportation company’s stock after acquiring an additional 8,495 shares during the period. Hillsdale Investment Management Inc.’s holdings in Canadian National Railway were worth $2,920,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Canadian National Railway by 1.6% in the third quarter. Vanguard Group Inc. now owns 24,300,252 shares of the transportation company’s stock valued at $2,291,562,000 after purchasing an additional 372,859 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Canadian National Railway by 26.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock worth $695,048,000 after buying an additional 1,408,978 shares during the last quarter. Fiera Capital Corp grew its holdings in Canadian National Railway by 11.6% in the 3rd quarter. Fiera Capital Corp now owns 6,471,710 shares of the transportation company’s stock valued at $610,076,000 after buying an additional 671,127 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Canadian National Railway by 20.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock valued at $655,768,000 after buying an additional 1,051,977 shares during the period. Finally, Norges Bank acquired a new position in shares of Canadian National Railway during the 2nd quarter valued at about $591,904,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group cut shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Royal Bank Of Canada cut their price target on shares of Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, February 2nd. Stephens lowered their price objective on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, February 2nd. Evercore dropped their price objective on Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a report on Monday, February 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Canadian National Railway in a research report on Monday, February 2nd. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.91.

Canadian National Railway Price Performance

CNI opened at $110.50 on Monday. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $110.93. The company has a 50 day moving average of $100.55 and a two-hundred day moving average of $96.99. The company has a market cap of $67.75 billion, a P/E ratio of 20.35, a P/E/G ratio of 2.32 and a beta of 0.94. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the previous year, the business posted $1.82 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 annualized dividend and a dividend yield of 3.3%. Canadian National Railway’s dividend payout ratio (DPR) is currently 46.59%.

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.