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

CIBC Private Wealth Group LLC raised its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 4.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 340,708 shares of the transportation company’s stock after buying an additional 14,843 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Canadian National Railway were worth $32,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Canadian National Railway by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,300,252 shares of the transportation company’s stock worth $2,291,562,000 after acquiring an additional 372,859 shares during the period. Bank of Montreal Can increased its stake in Canadian National Railway by 0.3% in the third quarter. Bank of Montreal Can now owns 14,201,675 shares of the transportation company’s stock valued at $1,338,948,000 after acquiring an additional 42,907 shares during the last quarter. Caisse de depot et placement du Quebec increased its stake in Canadian National Railway by 1.1% in the third quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company’s stock valued at $1,310,600,000 after acquiring an additional 157,000 shares during the last quarter. Lazard Asset Management LLC raised its position in Canadian National Railway by 639,137.0% during the third quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock valued at $844,353,000 after purchasing an additional 8,954,310 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Canadian National Railway by 0.4% during the third quarter. Mackenzie Financial Corp now owns 8,626,147 shares of the transportation company’s stock worth $813,287,000 after purchasing an additional 35,938 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CNI has been the topic of a number of research analyst reports. Royal Bank Of Canada reduced their target price on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, February 2nd. Canadian Imperial Bank of Commerce raised Canadian National Railway from a “hold” rating to an “outperformer” rating and boosted their price target for the stock from $146.00 to $151.00 in a report on Friday, November 28th. Citigroup dropped their price objective on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. UBS Group lowered Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Evercore lowered their target price 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. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.91.

Canadian National Railway Stock Performance

NYSE CNI opened at $99.01 on Friday. The firm’s fifty day moving average price is $103.86 and its two-hundred day moving average price is $98.67. The stock has a market cap of $60.52 billion, a PE ratio of 18.23, a PEG ratio of 2.08 and a beta of 0.90. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $113.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced 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 company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the prior year, the company earned $1.82 EPS. Canadian National Railway’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts expect that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced 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 is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, March 10th. Canadian National Railway’s dividend payout ratio is 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.