Bristol Gate Capital Partners Inc. Purchases 1,664 Shares of Canadian National Railway Company $CNI

Bristol Gate Capital Partners Inc. lifted its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 20.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,870 shares of the transportation company’s stock after buying an additional 1,664 shares during the period. Canadian National Railway comprises about 0.1% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 26th biggest position. Bristol Gate Capital Partners Inc.’s holdings in Canadian National Railway were worth $1,026,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CNI. Norges Bank bought a new stake in Canadian National Railway during the second quarter valued at $591,904,000. Kingstone Capital Partners Texas LLC bought a new position in Canadian National Railway in the 2nd quarter worth about $310,489,000. The Manufacturers Life Insurance Company raised its holdings in shares of Canadian National Railway by 37.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company’s stock valued at $518,260,000 after acquiring an additional 1,439,617 shares in the last quarter. Nuveen LLC bought a new stake in shares of Canadian National Railway during the 1st quarter valued at about $112,216,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Canadian National Railway by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock valued at $646,983,000 after acquiring an additional 1,148,569 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock opened at $95.88 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $112.06. The company has a fifty day moving average of $94.76 and a 200-day moving average of $98.11. The stock has a market capitalization of $59.11 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 2.13 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Friday, October 31st. The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the company earned $1.72 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be paid a $0.8875 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.7%. Canadian National Railway’s dividend payout ratio is presently 48.01%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CNI shares. Wall Street Zen upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Canadian National Railway in a report on Wednesday, October 8th. CIBC upgraded shares of Canadian National Railway from a “neutral” rating to an “outperformer” rating and raised their price objective for the company from $146.00 to $151.00 in a research report on Friday. Bank of America cut their target price on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Finally, Evercore ISI increased their target price on Canadian National Railway from $98.00 to $103.00 and gave the company an “in-line” rating in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.36.

Canadian National Railway Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.