Weatherly Asset Management L. P. raised its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,736 shares of the transportation company’s stock after purchasing an additional 1,450 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Canadian National Railway were worth $2,175,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. ING Groep NV acquired a new stake in Canadian National Railway in the 4th quarter worth approximately $3,328,000. Dempze Nancy E lifted its stake in Canadian National Railway by 16.7% during the 4th quarter. Dempze Nancy E now owns 29,354 shares of the transportation company’s stock valued at $2,420,000 after acquiring an additional 4,193 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of Canadian National Railway during the 4th quarter valued at approximately $6,098,000. Investec Asset Management LTD increased its holdings in shares of Canadian National Railway by 7.2% during the 4th quarter. Investec Asset Management LTD now owns 591,737 shares of the transportation company’s stock valued at $48,818,000 after purchasing an additional 39,919 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its holdings in shares of Canadian National Railway by 4.4% during the 4th quarter. State of Wisconsin Investment Board now owns 670,086 shares of the transportation company’s stock valued at $55,433,000 after purchasing an additional 28,000 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the stock. Bank of America raised shares of Canadian National Railway from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $72.00 to $93.00 in a report on Thursday. Macquarie cut shares of Canadian National Railway from an “outperform” rating to a “neutral” rating in a research note on Thursday. They noted that the move was a valuation call. Credit Suisse Group lowered their target price on shares of Canadian National Railway from $85.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. UBS raised shares of Canadian National Railway from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 3rd. Finally, Zacks Investment Research raised shares of Canadian National Railway from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $86.10.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Monday, April 23rd. The transportation company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.20. Canadian National Railway had a return on equity of 23.02% and a net margin of 41.03%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the prior year, the business posted $1.15 earnings per share. Canadian National Railway’s revenue was down .4% compared to the same quarter last year. analysts anticipate that Canadian National Railway will post 4.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 8th will be given a $0.3603 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, June 7th. Canadian National Railway’s dividend payout ratio is currently 36.72%.
Canadian National Railway Company Profile
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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