Mackenzie Financial Corp Boosts Stock Position in Canadian National Railway Company $CNI

Mackenzie Financial Corp grew its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 0.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,626,147 shares of the transportation company’s stock after buying an additional 35,938 shares during the period. Canadian National Railway accounts for about 1.0% of Mackenzie Financial Corp’s holdings, making the stock its 21st largest holding. Mackenzie Financial Corp owned about 1.40% of Canadian National Railway worth $813,287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CNI. Addison Advisors LLC increased its holdings in shares of Canadian National Railway by 124.0% in the 2nd quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 150 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Canadian National Railway during the 3rd quarter worth about $28,000. First Horizon Corp purchased a new stake in Canadian National Railway during the third quarter worth approximately $30,000. Costello Asset Management INC lifted its stake in Canadian National Railway by 83.3% during the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock worth $31,000 after purchasing an additional 150 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Canadian National Railway in the third quarter valued at approximately $50,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stephens dropped their price target on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, February 2nd. BMO Capital Markets restated an “outperform” rating on shares of Canadian National Railway in a research report on Monday, February 2nd. UBS Group cut shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Citigroup dropped their target price on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Finally, Barclays cut their price target on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Canadian National Railway currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.91.

Canadian National Railway Trading Down 1.4%

NYSE:CNI opened at $106.42 on Wednesday. The company has a market capitalization of $65.25 billion, a PE ratio of 19.60, a P/E/G ratio of 2.24 and a beta of 0.90. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $113.08. The stock’s 50 day moving average price is $103.30 and its 200 day moving average price is $98.37. 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 quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 earnings per share. On average, research analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio is presently 46.59%.

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.