Canadian National Railway Company $CNI Shares Bought by Claret Asset Management Corp

Claret Asset Management Corp increased its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 362.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,910 shares of the transportation company’s stock after buying an additional 61,080 shares during the quarter. Canadian National Railway comprises 0.9% of Claret Asset Management Corp’s portfolio, making the stock its 28th largest position. Claret Asset Management Corp’s holdings in Canadian National Railway were worth $7,347,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Canadian National Railway during the 2nd quarter valued at $591,904,000. Fisher Asset Management LLC acquired a new position in shares of Canadian National Railway in the second quarter worth about $189,748,000. Troy Asset Management Ltd boosted its holdings in Canadian National Railway by 158.8% in 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 during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Canadian National Railway by 26.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock valued at $695,048,000 after purchasing an additional 1,408,978 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Canadian National Railway by 20.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock valued at $655,768,000 after purchasing an additional 1,051,977 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Barclays dropped their price objective on Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, February 2nd. Canadian Imperial Bank of Commerce raised shares of Canadian National Railway from a “hold” rating to an “outperformer” rating and raised their price target for the stock from $146.00 to $151.00 in a research report on Friday, November 28th. Zacks Research upgraded shares of Canadian National Railway from a “strong sell” rating to a “hold” rating in a research note on Friday, November 28th. Evercore cut their price target on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a report on Monday, February 2nd. Finally, Stephens reduced their price objective on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $118.91.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $108.04 on Tuesday. The company has a market cap of $66.24 billion, a PE ratio of 19.90, a P/E/G ratio of 2.22 and a beta of 0.90. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $113.08. The firm has a 50-day simple moving average of $103.16 and a 200 day simple moving average of $98.29. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share (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 business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the previous year, the firm posted $1.82 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Canadian National Railway Company will post 5.52 EPS 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. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.915 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, March 10th. Canadian National Railway’s payout ratio is currently 46.59%.

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.