Costello Asset Management INC Grows Stake in Canadian National Railway Company $CNI

Costello Asset Management INC increased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 11,790.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 39,240 shares of the transportation company’s stock after acquiring an additional 38,910 shares during the quarter. Canadian National Railway accounts for about 1.4% of Costello Asset Management INC’s investment portfolio, making the stock its 18th biggest holding. Costello Asset Management INC’s holdings in Canadian National Railway were worth $4,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Minot DeBlois Advisors LLC lifted its holdings in Canadian National Railway by 2.0% in the fourth quarter. Minot DeBlois Advisors LLC now owns 5,132 shares of the transportation company’s stock valued at $507,000 after acquiring an additional 103 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Canadian National Railway by 19.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 635 shares of the transportation company’s stock valued at $63,000 after purchasing an additional 103 shares during the period. Tacita Capital Inc grew its stake in shares of Canadian National Railway by 0.6% during the 4th quarter. Tacita Capital Inc now owns 19,809 shares of the transportation company’s stock valued at $1,960,000 after purchasing an additional 109 shares during the period. Roberts Glore & Co. Inc. IL increased its position in shares of Canadian National Railway by 1.5% during the 4th quarter. Roberts Glore & Co. Inc. IL now owns 7,233 shares of the transportation company’s stock valued at $715,000 after purchasing an additional 110 shares during the last quarter. Finally, Patten Group Inc. increased its position in shares of Canadian National Railway by 1.4% during the 4th quarter. Patten Group Inc. now owns 8,326 shares of the transportation company’s stock valued at $823,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.1%

NYSE CNI opened at $124.46 on Friday. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $125.26. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $75.51 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 2.34 and a beta of 0.96. The stock’s 50-day moving average price is $116.99 and its 200-day moving average price is $108.65.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.31. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 EPS. On average, equities research analysts predict that Canadian National Railway Company will post 5.75 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a dividend of $0.915 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 2.9%. Canadian National Railway’s payout ratio is currently 48.55%.

Analyst Ratings Changes

CNI has been the topic of a number of research reports. National Bank Financial set a $124.00 price objective on shares of Canadian National Railway in a report on Thursday, June 25th. Weiss Ratings cut shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Sanford C. Bernstein increased their price target on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research report on Tuesday, March 31st. Citigroup lifted their price target on shares of Canadian National Railway from $124.00 to $141.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Bank of America boosted their price objective on shares of Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $129.94.

About Canadian National Railway

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.