Cardinal Point Capital Management ULC Purchases 27,857 Shares of Canadian National Railway Company $CNI

Cardinal Point Capital Management ULC raised its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 28.8% in the third quarter, Holdings Channel reports. The fund owned 124,426 shares of the transportation company’s stock after buying an additional 27,857 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Canadian National Railway were worth $11,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Creative Financial Designs Inc. ADV lifted its position in shares of Canadian National Railway by 13.4% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 929 shares of the transportation company’s stock worth $97,000 after purchasing an additional 110 shares during the last quarter. IFP Advisors Inc increased its position in Canadian National Railway by 3.3% in the 2nd quarter. IFP Advisors Inc now owns 3,582 shares of the transportation company’s stock worth $373,000 after buying an additional 115 shares during the period. D.A. Davidson & CO. increased its position in Canadian National Railway by 5.3% in the 2nd quarter. D.A. Davidson & CO. now owns 2,374 shares of the transportation company’s stock worth $247,000 after buying an additional 119 shares during the period. M&T Bank Corp lifted its holdings in shares of Canadian National Railway by 1.9% during the second quarter. M&T Bank Corp now owns 6,629 shares of the transportation company’s stock worth $690,000 after buying an additional 122 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its position in shares of Canadian National Railway by 1.9% in the third quarter. Foundations Investment Advisors LLC now owns 7,014 shares of the transportation company’s stock valued at $661,000 after acquiring an additional 128 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

NYSE CNI opened at $101.41 on Monday. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $108.75. 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 stock has a market cap of $62.31 billion, a P/E ratio of 18.68, a PEG ratio of 2.13 and a beta of 0.94. The company’s 50-day simple moving average is $98.60 and its 200 day simple moving average is $96.07.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, beating 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 company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 3.6%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date is Tuesday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is currently 46.59%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CNI. Royal Bank Of Canada dropped their target price on shares of Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, February 2nd. Citigroup decreased 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. Vertical Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Barclays reduced 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 research note on Monday, February 2nd. Finally, Wall Street Zen raised Canadian National Railway from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of “Moderate Buy” and an average price target of $118.91.

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.