Cvfg LLC Purchases New Stake in Canadian National Railway (NYSE:CNI)

Cvfg LLC purchased a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,154 shares of the transportation company’s stock, valued at approximately $219,000.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Canadian National Railway by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock valued at $2,175,935,000 after acquiring an additional 790,420 shares during the period. 1832 Asset Management L.P. increased its holdings in Canadian National Railway by 7.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after purchasing an additional 674,536 shares in the last quarter. JARISLOWSKY FRASER Ltd raised its position in Canadian National Railway by 1.2% in the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock valued at $1,017,315,000 after purchasing an additional 99,716 shares during the period. National Bank of Canada FI lifted its stake in shares of Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock worth $789,030,000 after purchasing an additional 2,137,948 shares in the last quarter. Finally, Fiera Capital Corp boosted its position in shares of Canadian National Railway by 0.7% in the third quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock worth $642,828,000 after buying an additional 39,063 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNI has been the topic of several analyst reports. Susquehanna dropped their target price on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Bank of America dropped their price objective on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Monday. Jefferies Financial Group raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.77.

Canadian National Railway Price Performance

Shares of CNI opened at $101.98 on Friday. Canadian National Railway has a 52 week low of $98.96 and a 52 week high of $134.02. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The firm has a market cap of $64.13 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 2.21 and a beta of 0.91. The stock has a 50 day moving average of $105.85 and a 200-day moving average of $112.09.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, analysts forecast that Canadian National Railway will post 5.21 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a $0.6108 dividend. The ex-dividend date was Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.40%. Canadian National Railway’s dividend payout ratio is currently 38.30%.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.