Manitou Investment Management Ltd. Purchases 5,681 Shares of Canadian National Railway (NYSE:CNI)

Manitou Investment Management Ltd. boosted its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 69.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,904 shares of the transportation company’s stock after acquiring an additional 5,681 shares during the period. Manitou Investment Management Ltd.’s holdings in Canadian National Railway were worth $1,467,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CNI. Sageworth Trust Co bought a new stake in Canadian National Railway in the 1st quarter worth $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of Canadian National Railway by 1,250.0% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 324 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 300 shares in the last quarter. Logan Capital Management Inc. bought a new stake in shares of Canadian National Railway during the 1st quarter valued at about $38,000. Exchange Traded Concepts LLC bought a new stake in shares of Canadian National Railway during the 2nd quarter valued at about $39,000. Finally, PNC Managed Account Solutions Inc. purchased a new position in Canadian National Railway during the 2nd quarter valued at about $50,000. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have issued reports on CNI shares. Stifel Nicolaus started coverage on shares of Canadian National Railway in a report on Monday, June 21st. They issued a “hold” rating for the company. Credit Suisse Group cut their target price on shares of Canadian National Railway from $121.00 to $112.00 and set an “outperform” rating for the company in a research report on Wednesday, July 21st. Desjardins dropped their price target on shares of Canadian National Railway from C$147.00 to C$145.00 and set a “hold” rating for the company in a research report on Wednesday, May 26th. Wells Fargo & Company lowered their target price on shares of Canadian National Railway from $120.00 to $119.00 and set an “equal weight” rating on the stock in a report on Friday, July 9th. Finally, National Bank Financial boosted their target price on shares of Canadian National Railway from C$139.00 to C$144.00 and gave the stock a “sector perform” rating in a report on Monday. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $140.56.

Shares of CNI traded up $0.54 during midday trading on Tuesday, hitting $114.50. The stock had a trading volume of 126,193 shares, compared to its average volume of 1,765,422. Canadian National Railway has a 1 year low of $98.69 and a 1 year high of $128.41. The firm has a market cap of $81.18 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 3.18 and a beta of 0.81. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.76. The stock’s 50 day moving average is $110.70 and its 200 day moving average is $111.01.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Monday, July 19th. The transportation company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.01. Canadian National Railway had a net margin of 28.27% and a return on equity of 20.00%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the firm posted $1.28 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts expect that Canadian National Railway will post 4.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 8th will be paid a $0.4827 dividend. This represents a $1.93 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Tuesday, September 7th. Canadian National Railway’s dividend payout ratio is currently 48.99%.

About Canadian National Railway

Canadian National Railway Co engages in rail and related transportation business. The firm’s services include rail, intermodal, trucking, supply chain services, business development and maps and network. It offers their services in automotive, coal, fertilizer, food and beverages, forest products, dimensional loads, grain, metals and minerals and petroleum and chemicals industries.

Featured Story: Intrinsic Value and Stock Selection

Want to see what other hedge funds are holding CNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian National Railway (NYSE:CNI) (TSE:CNR).

Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

Receive News & Ratings for Canadian National Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian National Railway and related companies with MarketBeat.com's FREE daily email newsletter.