JPMorgan Chase & Co. Increases Position in Canadian National Railway Company $CNI

JPMorgan Chase & Co. increased its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 9.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,795,417 shares of the transportation company’s stock after acquiring an additional 246,355 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.45% of Canadian National Railway worth $263,608,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Addison Advisors LLC grew its stake in Canadian National Railway by 124.0% during the 2nd quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. Hollencrest Capital Management purchased a new position in shares of Canadian National Railway during the 3rd quarter valued at approximately $28,000. Curio Wealth LLC boosted its stake in shares of Canadian National Railway by 31,600.0% during the 2nd quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock valued at $33,000 after buying an additional 316 shares during the last quarter. First Horizon Corp acquired a new stake in shares of Canadian National Railway during the third quarter worth approximately $30,000. Finally, Costello Asset Management INC increased its stake in shares of Canadian National Railway by 83.3% in the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock worth $31,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CNI. Evercore reduced their price objective on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a research note on Monday, February 2nd. Vertical Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. UBS Group cut shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Citigroup lowered their price objective on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Finally, Royal Bank Of Canada cut their price objective on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.91.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $109.49 on Friday. The company has a market cap of $67.13 billion, a PE ratio of 20.16, a P/E/G ratio of 2.27 and a beta of 0.94. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $109.90. The firm has a 50-day simple moving average of $100.30 and a 200 day simple moving average of $96.83. 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 issued its earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. Canadian National Railway’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.82 earnings per share. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, March 10th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio (DPR) is currently 46.59%.

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.