CIBC Private Wealth Group LLC Has $32.13 Million Stock Holdings in Canadian National Railway Company $CNI

CIBC Private Wealth Group LLC boosted its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,708 shares of the transportation company’s stock after purchasing an additional 14,843 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.06% of Canadian National Railway worth $32,129,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on CNI. Vertical Research raised Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Evercore reduced their price target on Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a research note on Monday, February 2nd. Barclays decreased their price objective on Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, February 2nd. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and increased their price objective for the stock from $146.00 to $151.00 in a research report on Friday, November 28th. Finally, Citigroup dropped their target price on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a report 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.91.

Canadian National Railway Stock Down 1.3%

NYSE CNI opened at $99.01 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94. The company has a market cap of $60.52 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.08 and a beta of 0.90. The company has a 50 day moving average of $103.86 and a 200-day moving average of $98.67. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $113.08.

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 analysts’ consensus estimates of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the business posted $1.82 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.915 per share. This is an increase 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 dividend yield of 3.7%. 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.