Public Sector Pension Investment Board Has $38.76 Million Stake in Canadian National Railway Company $CNI

Public Sector Pension Investment Board grew its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 668.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 410,879 shares of the transportation company’s stock after acquiring an additional 357,392 shares during the quarter. Public Sector Pension Investment Board owned 0.07% of Canadian National Railway worth $38,755,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CNI. Cardinal Point Capital Management ULC boosted its holdings in shares of Canadian National Railway by 28.8% in the third quarter. Cardinal Point Capital Management ULC now owns 124,426 shares of the transportation company’s stock valued at $11,730,000 after buying an additional 27,857 shares during the period. Westerkirk Capital Inc. bought a new stake in Canadian National Railway in the 2nd quarter valued at $3,448,000. Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in Canadian National Railway by 9.8% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 802,257 shares of the transportation company’s stock worth $83,646,000 after purchasing an additional 71,364 shares during the period. Lorne Steinberg Wealth Management Inc. boosted its stake in Canadian National Railway by 23.3% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 83,095 shares of the transportation company’s stock worth $7,834,000 after purchasing an additional 15,715 shares during the period. Finally, Cardinal Capital Management Inc. increased its holdings in Canadian National Railway by 1.5% during the 3rd quarter. Cardinal Capital Management Inc. now owns 742,230 shares of the transportation company’s stock worth $70,038,000 after purchasing an additional 10,880 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Price Performance

NYSE:CNI opened at $107.32 on Friday. Canadian National Railway Company has a one year low of $90.74 and a one year high of $108.75. The company has a market cap of $65.80 billion, a P/E ratio of 19.76, a P/E/G ratio of 2.23 and a beta of 0.94. The firm’s fifty day moving average price is $99.29 and its two-hundred day moving average price is $96.35. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.43 by $0.06. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate 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 prior year, the business earned $1.82 earnings per share. Equities analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 3.4%. The ex-dividend date 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 (DPR) is 46.59%.

Analyst Ratings Changes

CNI has been the subject of several research reports. Royal Bank Of Canada decreased their price target on shares of Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, February 2nd. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and upped their price objective for the stock from $146.00 to $151.00 in a research note on Friday, November 28th. BMO Capital Markets reissued an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Evercore lowered their target price on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a report on Monday, February 2nd. Finally, Zacks Research raised shares of Canadian National Railway from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and an average target price of $118.91.

Canadian National Railway Company 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.