CIBC Bancorp USA Inc. Takes Position in Canadian National Railway Company $CNI

CIBC Bancorp USA Inc. bought a new stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 340,874 shares of the transportation company’s stock, valued at approximately $32,174,000.

A number of other large investors also recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in Canadian National Railway during the third quarter valued at about $28,000. First Horizon Corp purchased a new position in shares of Canadian National Railway in the third quarter worth about $30,000. Costello Asset Management INC increased its holdings in shares of Canadian National Railway by 83.3% in the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock worth $31,000 after buying an additional 150 shares during the period. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Canadian National Railway in the 3rd quarter valued at about $50,000. Finally, Fulcrum Asset Management LLP bought a new stake in shares of Canadian National Railway in the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Barclays dropped their price objective on 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. Evercore cut their target price on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a report on Monday, February 2nd. Finally, Royal Bank Of Canada decreased 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 note on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.91.

Canadian National Railway Stock Down 1.7%

NYSE CNI opened at $100.27 on Thursday. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $113.08. The stock has a market capitalization of $61.29 billion, a PE ratio of 18.47, a PEG ratio of 2.12 and a beta of 0.90. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47. The business’s 50-day moving average is $103.87 and its 200 day moving average is $98.67.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 EPS 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 business 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 company posted $1.82 EPS. Canadian National Railway’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a dividend yield of 3.7%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, March 10th. Canadian National Railway’s payout ratio is presently 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.