Canadian National Railway Company $CNI Shares Purchased by Bank of Montreal Can

Bank of Montreal Can boosted its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,201,675 shares of the transportation company’s stock after buying an additional 42,907 shares during the quarter. Bank of Montreal Can owned approximately 2.30% of Canadian National Railway worth $1,338,948,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Cardinal Point Capital Management ULC increased its position in shares of Canadian National Railway by 28.8% during the third 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 in the last quarter. Westerkirk Capital Inc. acquired a new position in Canadian National Railway in the 2nd quarter valued at $3,448,000. Lorne Steinberg Wealth Management Inc. lifted its holdings in Canadian National Railway by 23.3% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 83,095 shares of the transportation company’s stock valued at $7,834,000 after purchasing an additional 15,715 shares in the last quarter. Cardinal Capital Management Inc. lifted its holdings in Canadian National Railway by 1.5% in the 3rd quarter. Cardinal Capital Management Inc. now owns 742,230 shares of the transportation company’s stock valued at $70,038,000 after purchasing an additional 10,880 shares in the last quarter. Finally, Nicola Wealth Management LTD. boosted its stake in Canadian National Railway by 13.9% during the 3rd quarter. Nicola Wealth Management LTD. now owns 198,800 shares of the transportation company’s stock worth $18,749,000 after purchasing an additional 24,200 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays dropped their target price on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, February 2nd. Citigroup lowered their price target on shares of 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. Zacks Research raised shares of Canadian National Railway from a “strong sell” rating to a “hold” rating in a research note on Friday, November 28th. UBS Group downgraded shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Canadian Imperial Bank of Commerce raised shares of Canadian National Railway from a “hold” rating to an “outperformer” rating and raised their target price for the stock from $146.00 to $151.00 in a research note on Friday, November 28th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Moderate Buy” and an average target price of $118.91.

Canadian National Railway Stock Up 1.2%

NYSE CNI opened at $108.04 on Tuesday. The business’s fifty day simple moving average is $103.16 and its 200-day simple moving average is $98.29. 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 firm has a market cap of $66.24 billion, a PE ratio of 19.90, a P/E/G ratio of 2.22 and a beta of 0.90. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $113.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. Canadian National Railway’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current 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 issued a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio (DPR) is presently 46.59%.

Canadian National Railway Company 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.