32,650 Shares in Canadian National Railway Company $CNI Bought by Kensington Investment Counsel LLC

Kensington Investment Counsel LLC bought a new stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 32,650 shares of the transportation company’s stock, valued at approximately $3,079,000. Canadian National Railway accounts for approximately 1.3% of Kensington Investment Counsel LLC’s portfolio, making the stock its 23rd biggest holding.

Several other institutional investors also recently made changes to their positions in CNI. Hollencrest Capital Management acquired a new position in shares of Canadian National Railway during the 3rd quarter worth $28,000. First Horizon Corp purchased a new position in shares of Canadian National Railway in the 3rd quarter valued at about $30,000. Costello Asset Management INC lifted 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 valued at $31,000 after purchasing an additional 150 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Canadian National Railway in the third quarter valued at about $50,000. Finally, Fulcrum Asset Management LLP purchased a new stake in Canadian National Railway during the third quarter worth about $51,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

NYSE:CNI opened at $102.00 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $62.35 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90. The firm has a 50-day moving average price of $103.80 and a two-hundred day moving average price of $98.66. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $113.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.06. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $4.43 billion. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.82 earnings per share. As a group, research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal 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 given a dividend of $0.915 per share. The ex-dividend date is Tuesday, March 10th. This represents a $3.66 annualized dividend and a dividend yield of 3.6%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s payout ratio is presently 49.36%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays lowered their target price on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, February 2nd. Canadian Imperial Bank of Commerce raised Canadian National Railway from a “hold” rating to an “outperformer” rating and boosted their price target for the stock from $146.00 to $151.00 in a research note on Friday, November 28th. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Stephens dropped their price objective on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, February 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Canadian National Railway in a report on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Canadian National Railway has an average rating of “Moderate Buy” and a consensus target price of $118.91.

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.