Goldman Sachs Group Inc. Grows Holdings in Canadian National Railway Company $CNI

Goldman Sachs Group Inc. raised its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 2.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,597,721 shares of the transportation company’s stock after purchasing an additional 97,937 shares during the period. Goldman Sachs Group Inc.’s holdings in Canadian National Railway were worth $355,635,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of CNI. High Point Wealth Management LLC acquired a new position in shares of Canadian National Railway in the 4th quarter worth approximately $27,000. Costello Asset Management INC lifted its holdings in shares of Canadian National Railway by 83.3% in the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock worth $31,000 after acquiring an additional 150 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Canadian National Railway in the 4th quarter worth approximately $39,000. Fulcrum Asset Management LLP acquired a new position in shares of Canadian National Railway in the 3rd quarter worth approximately $51,000. Finally, TFC Financial Management Inc. acquired a new position in shares of Canadian National Railway in the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CNI. Citigroup upped their price objective on shares of Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings downgraded shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Barclays upped their target price on shares of Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Sanford C. Bernstein upped their target price on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research note on Tuesday, March 31st. Finally, Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the stock from $117.00 to $122.00 in a research note on Thursday, April 9th. Nine research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and an average price target of $122.04.

Canadian National Railway Stock Up 0.8%

CNI stock opened at $120.50 on Friday. Canadian National Railway Company has a one year low of $90.74 and a one year high of $122.48. The stock has a market capitalization of $73.23 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67. The company has a fifty day moving average of $111.57 and a 200-day moving average of $104.63.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, meeting the consensus estimate of $1.31. The firm had revenue of $3.15 billion during 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 business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $1.85 earnings per share. As a group, analysts expect that Canadian National Railway Company will post 5.76 EPS for the current year.

Canadian National Railway Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 9th. Canadian National Railway’s payout ratio is currently 48.73%.

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.