Canoe Financial LP Has $289.20 Million Position in Canadian National Railway Company $CNI

Canoe Financial LP boosted its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,924,042 shares of the transportation company’s stock after buying an additional 155,760 shares during the period. Canadian National Railway accounts for about 3.9% of Canoe Financial LP’s investment portfolio, making the stock its 4th biggest holding. Canoe Financial LP’s holdings in Canadian National Railway were worth $289,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Lazard Asset Management LLC increased its holdings in shares of Canadian National Railway by 639,137.0% in the 3rd quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock valued at $844,353,000 after acquiring an additional 8,954,310 shares during the period. Norges Bank purchased a new stake in shares of Canadian National Railway during the 2nd quarter worth $591,904,000. Fisher Asset Management LLC bought a new stake in Canadian National Railway during the second quarter valued at about $189,748,000. Troy Asset Management Ltd boosted its position in Canadian National Railway by 158.8% during the third quarter. Troy Asset Management Ltd now owns 2,738,372 shares of the transportation company’s stock valued at $258,220,000 after purchasing an additional 1,680,223 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in Canadian National Railway by 1,693.5% in the third quarter. Quadrature Capital Ltd now owns 1,739,700 shares of the transportation company’s stock valued at $164,043,000 after purchasing an additional 1,642,700 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNI. Evercore decreased their price target on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a research report on Monday, February 2nd. Barclays lifted their price objective on shares of Canadian National Railway from $97.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Friday. Stephens decreased their target price on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, February 2nd. Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Finally, Citigroup cut 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 report on Monday, February 2nd. Ten equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.55.

Canadian National Railway Trading Down 0.1%

NYSE CNI opened at $101.51 on Friday. The company has a fifty day simple moving average of $104.12 and a two-hundred day simple moving average of $98.89. The stock has a market cap of $62.05 billion, a P/E ratio of 18.69, a P/E/G ratio of 2.11 and a beta of 0.90. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $113.08. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced 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 net margin of 27.28% and a return on equity of 22.14%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the company earned $1.82 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders 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 yield of 3.6%. The ex-dividend date is Tuesday, March 10th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio (DPR) is presently 49.36%.

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.