Canadian National Railway Company $CNI Holdings Boosted by Canoe Financial LP

Canoe Financial LP increased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 17.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,426,466 shares of the transportation company’s stock after buying an additional 502,424 shares during the quarter. Canadian National Railway accounts for 4.8% of Canoe Financial LP’s portfolio, making the stock its largest position. Canoe Financial LP owned about 0.56% of Canadian National Railway worth $352,527,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. High Point Wealth Management LLC bought a new stake in shares of Canadian National Railway in the 4th quarter worth approximately $27,000. MidFirst Bank bought a new position in shares of Canadian National Railway during the 4th quarter valued at $31,000. Curio Wealth LLC bought a new position in shares of Canadian National Railway during the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd raised its position in Canadian National Railway by 378.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after purchasing an additional 280 shares during the period. Finally, MBM Wealth Consultants LLC purchased a new position in Canadian National Railway in the 1st quarter worth $37,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CNI shares. Citigroup upped their price target on shares of Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Sanford C. Bernstein lifted their price objective on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Barclays boosted their target price on Canadian National Railway from $99.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday. Royal Bank Of Canada increased their target price on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.12.

Canadian National Railway Trading Up 0.0%

Shares of CNI opened at $120.61 on Monday. The stock has a market capitalization of $73.18 billion, a P/E ratio of 21.93, a PEG ratio of 2.27 and a beta of 0.96. 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 firm has a fifty day simple moving average of $114.95 and a two-hundred day simple moving average of $107.05. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $122.48.

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

Canadian National Railway Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $3.66 annualized dividend and a dividend yield of 3.0%. Canadian National Railway’s dividend payout ratio (DPR) is presently 48.55%.

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.