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

Canoe Financial LP lifted its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 17.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,426,466 shares of the transportation company’s stock after acquiring an additional 502,424 shares during the quarter. Canadian National Railway makes up 4.8% of Canoe Financial LP’s portfolio, making the stock its biggest position. Canoe Financial LP’s holdings in Canadian National Railway were worth $352,527,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. High Point Wealth Management LLC bought a new stake in Canadian National Railway in the fourth quarter valued at $27,000. Curio Wealth LLC purchased a new position in Canadian National Railway during the 4th quarter valued at $31,000. MidFirst Bank bought a new position in Canadian National Railway in the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd raised its holdings 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 in the last quarter. Finally, MBM Wealth Consultants LLC purchased a new stake in shares of Canadian National Railway in the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

CNI has been the topic of a number of research reports. Bank of America lifted their target price on shares of Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. National Bank Financial set a $124.00 price target on shares of Canadian National Railway in a research note on Thursday. Barclays raised their price objective on shares of Canadian National Railway from $99.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday. Sanford C. Bernstein lifted their price objective on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. Finally, Citigroup upped their target price on Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.12.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $120.61 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $73.18 billion, a P/E ratio of 21.93, a P/E/G ratio of 2.27 and a beta of 0.96. The business 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 12 month low of $90.74 and a 12 month high of $122.48.

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

Canadian National Railway Announces Dividend

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

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.