Canadian National Railway Company $CNI is Canoe Financial LP’s 4th Largest Position

Canoe Financial LP increased its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,924,042 shares of the transportation company’s stock after purchasing an additional 155,760 shares during the quarter. Canadian National Railway accounts for 3.9% of Canoe Financial LP’s holdings, making the stock its 4th biggest holding. Canoe Financial LP owned approximately 0.48% of Canadian National Railway worth $289,196,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cardinal Point Capital Management ULC boosted its stake in shares of Canadian National Railway by 28.8% during the 3rd quarter. Cardinal Point Capital Management ULC now owns 124,426 shares of the transportation company’s stock worth $11,730,000 after purchasing an additional 27,857 shares during the period. Westerkirk Capital Inc. purchased a new stake in Canadian National Railway in the 2nd quarter worth about $3,448,000. Lincluden Management Ltd. raised its position in Canadian National Railway by 4.1% in the 3rd quarter. Lincluden Management Ltd. now owns 434,344 shares of the transportation company’s stock worth $40,717,000 after purchasing an additional 17,257 shares during the period. Kensington Investment Counsel LLC bought a new stake in Canadian National Railway in the third quarter worth about $3,079,000. Finally, Lorne Steinberg Wealth Management Inc. lifted its stake in Canadian National Railway by 23.3% in the third quarter. Lorne Steinberg Wealth Management Inc. now owns 83,095 shares of the transportation company’s stock worth $7,834,000 after purchasing an additional 15,715 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CNI shares. Stephens cut their target price on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, February 2nd. BMO Capital Markets restated an “outperform” rating on shares of Canadian National Railway in a report on Monday, February 2nd. Evercore cut their price objective on Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a research report on Monday, February 2nd. Barclays increased their target price on Canadian National Railway from $97.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Citigroup decreased their target price on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and an average price target of $115.55.

Canadian National Railway Trading Down 0.1%

Shares of NYSE CNI opened at $101.51 on Friday. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $113.08. The firm has a market cap of $62.05 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.11 and a beta of 0.90. The business has a fifty day simple moving average of $104.12 and a two-hundred day simple moving average of $98.89. 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 announced its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.43 by $0.06. The firm had revenue of $3.24 billion for 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 business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.82 earnings per share. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.915 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 dividend on an annualized basis and a yield of 3.6%. Canadian National Railway’s payout ratio is 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.