CIBC Bancorp USA Inc. Invests $32.17 Million in Canadian National Railway Company $CNI

CIBC Bancorp USA Inc. acquired a new stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 340,874 shares of the transportation company’s stock, valued at approximately $32,174,000. CIBC Bancorp USA Inc. owned 0.06% of Canadian National Railway at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC bought a new position in Canadian National Railway in the 1st quarter valued at $311,000. Focus Partners Wealth increased its holdings in shares of Canadian National Railway by 11.1% in the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after purchasing an additional 1,146 shares during the period. Schnieders Capital Management LLC. purchased a new stake in shares of Canadian National Railway in the second quarter worth $202,000. Foundations Investment Advisors LLC raised its position in shares of Canadian National Railway by 71.7% in the second quarter. Foundations Investment Advisors LLC now owns 6,886 shares of the transportation company’s stock worth $716,000 after buying an additional 2,876 shares in the last quarter. Finally, Creative Planning boosted its stake in Canadian National Railway by 28.3% during the second quarter. Creative Planning now owns 80,281 shares of the transportation company’s stock valued at $8,352,000 after buying an additional 17,709 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

CNI has been the subject of several recent analyst reports. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. Evercore lowered their price target on Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a report on Monday, February 2nd. UBS Group downgraded 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 objective on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. Finally, Citigroup lowered their target price on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and an average target price of $118.91.

Canadian National Railway Stock Down 1.7%

CNI opened at $100.27 on Thursday. The business’s fifty day simple moving average is $103.87 and its 200 day simple moving average is $98.67. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $113.08. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94. The stock has a market cap of $61.29 billion, a PE ratio of 18.47, a P/E/G ratio of 2.12 and a beta of 0.90.

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

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a $0.915 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, March 10th. Canadian National Railway’s payout ratio is currently 49.36%.

Canadian National Railway Profile

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.