Canoe Financial LP Raises Holdings in Canadian National Railway Company $CNI

Canoe Financial LP lifted its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,768,282 shares of the transportation company’s stock after acquiring an additional 156,027 shares during the quarter. Canadian National Railway makes up approximately 3.7% of Canoe Financial LP’s holdings, making the stock its 4th biggest holding. Canoe Financial LP’s holdings in Canadian National Railway were worth $261,007,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Addison Advisors LLC grew its stake in Canadian National Railway by 124.0% in the second quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock worth $28,000 after purchasing an additional 150 shares in the last quarter. Curio Wealth LLC grew its position in shares of Canadian National Railway by 31,600.0% during the 2nd quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock worth $33,000 after buying an additional 316 shares in the last quarter. Private Trust Co. NA grew its position in shares of Canadian National Railway by 30.8% during the 3rd quarter. Private Trust Co. NA now owns 603 shares of the transportation company’s stock worth $57,000 after buying an additional 142 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Canadian National Railway by 42.7% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock valued at $58,000 after buying an additional 167 shares during the period. Finally, Caldwell Trust Co bought a new stake in shares of Canadian National Railway in the second quarter valued at about $68,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of CNI opened at $98.50 on Friday. The company has a 50 day moving average of $96.01 and a two-hundred day moving average of $97.11. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 0.92. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $108.75. The company has a market cap of $60.62 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 2.22 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $4.15 billion. Canadian National Railway had a return on equity of 21.50% and a net margin of 26.86%.The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.72 earnings per share. As a group, analysts predict 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 declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.6%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date is Tuesday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is 48.01%.

Wall Street Analyst Weigh In

CNI has been the topic of a number of research reports. CIBC raised shares of Canadian National Railway from a “neutral” rating to an “outperformer” rating and raised their target price for the company from $146.00 to $151.00 in a research report on Friday, November 28th. Cibc Captl Mkts upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Royal Bank Of Canada boosted their price objective on shares of Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. 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 report on Monday, November 3rd. Finally, Wells Fargo & Company cut their price target on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.36.

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.