Burkett Asset Management Ltd Takes Position in Canadian National Railway Company $CNI

Burkett Asset Management Ltd purchased a new stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 55,967 shares of the transportation company’s stock, valued at approximately $5,543,000. Canadian National Railway accounts for about 5.6% of Burkett Asset Management Ltd’s holdings, making the stock its 3rd largest position.

Other institutional investors have also recently made changes to their positions in the company. High Point Wealth Management LLC purchased a new position in shares of Canadian National Railway during the fourth quarter valued at $27,000. Curio Wealth LLC bought a new stake in Canadian National Railway during the fourth quarter valued at about $31,000. Leonteq Securities AG bought a new stake in Canadian National Railway during the fourth quarter valued at about $39,000. Fulcrum Asset Management LLP bought a new stake in Canadian National Railway during the third quarter valued at about $51,000. Finally, TFC Financial Management Inc. bought a new stake in Canadian National Railway during the fourth quarter valued at about $61,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $118.30 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67. The company has a market cap of $71.77 billion, a PE ratio of 21.51, a P/E/G ratio of 2.28 and a beta of 0.96. The business has a 50-day simple moving average of $113.01 and a two-hundred day simple moving average of $105.44. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $122.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, hitting the consensus estimate of $1.31. The business 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 company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $1.85 earnings per share. As a group, equities analysts expect that Canadian National Railway Company will post 5.76 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 48.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays raised their price objective on Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Weiss Ratings downgraded Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Canadian Imperial Bank of Commerce raised their price objective on Canadian National Railway from C$164.00 to C$182.00 and gave the company an “outperformer” rating in a research report on Tuesday. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price objective for the company from $117.00 to $122.00 in a research report on Thursday, April 9th. Finally, Royal Bank Of Canada raised their price objective on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $122.04.

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.