Cidel Asset Management Inc. Buys 51,374 Shares of Canadian National Railway Company $CNI

Cidel Asset Management Inc. grew its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 12.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 450,643 shares of the transportation company’s stock after purchasing an additional 51,374 shares during the period. Canadian National Railway makes up about 2.4% of Cidel Asset Management Inc.’s portfolio, making the stock its 12th biggest position. Cidel Asset Management Inc. owned about 0.07% of Canadian National Railway worth $42,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of CNI. Assetmark Inc. lifted its holdings in shares of Canadian National Railway by 9.5% in the 3rd quarter. Assetmark Inc. now owns 5,576 shares of the transportation company’s stock worth $526,000 after acquiring an additional 486 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Canadian National Railway by 668.2% in the third quarter. Public Sector Pension Investment Board now owns 410,879 shares of the transportation company’s stock worth $38,755,000 after purchasing an additional 357,392 shares during the last quarter. ICW Investment Advisors LLC boosted its position in shares of Canadian National Railway by 0.7% during the third quarter. ICW Investment Advisors LLC now owns 16,525 shares of the transportation company’s stock valued at $1,558,000 after buying an additional 120 shares during the period. Varma Mutual Pension Insurance Co grew its stake in shares of Canadian National Railway by 14.8% during the third quarter. Varma Mutual Pension Insurance Co now owns 144,146 shares of the transportation company’s stock valued at $13,596,000 after buying an additional 18,600 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Canadian National Railway in the third quarter worth approximately $276,000. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Citigroup cut their price objective on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Canadian Imperial Bank of Commerce raised shares of Canadian National Railway from a “hold” rating to an “outperformer” rating and boosted their target price for the company from $146.00 to $151.00 in a research note on Friday, November 28th. Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Susquehanna boosted 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. Finally, Zacks Research upgraded shares of Canadian National Railway from a “strong sell” rating to a “hold” rating in a research note on Friday, November 28th. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.91.

Canadian National Railway Stock Up 0.2%

NYSE:CNI opened at $107.55 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $108.75. The company has a 50-day moving average of $99.48 and a 200 day moving average of $96.44. The firm has a market cap of $65.94 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted 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. 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 during 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 company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, research analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business 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 boost 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 annualized dividend and a yield of 3.4%. Canadian National Railway’s payout ratio is 46.59%.

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.