TD Waterhouse Canada Inc. Acquires 116,530 Shares of Canadian National Railway Company $CNI

TD Waterhouse Canada Inc. lifted its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,297,955 shares of the transportation company’s stock after buying an additional 116,530 shares during the quarter. Canadian National Railway comprises approximately 1.4% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 23rd largest holding. TD Waterhouse Canada Inc.’s holdings in Canadian National Railway were worth $514,643,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CNI. Pin Oak Investment Advisors Inc. acquired a new position in shares of Canadian National Railway during the 2nd quarter valued at $27,000. MidFirst Bank acquired a new stake in Canadian National Railway in the fourth quarter worth $31,000. Curio Wealth LLC bought a new stake in Canadian National Railway in the fourth quarter valued at $31,000. Caitong International Asset Management Co. Ltd increased its stake in Canadian National Railway by 378.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 280 shares in the last quarter. Finally, MBM Wealth Consultants LLC bought a new stake in Canadian National Railway in the first quarter valued at $37,000. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Argus reissued a “hold” rating on shares of Canadian National Railway in a research report on Monday. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Monday, July 27th. Bank of America increased their price target on Canadian National Railway from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Susquehanna reissued a “neutral” rating and issued a $140.00 price objective (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday, July 14th. Finally, Weiss Ratings raised Canadian National Railway from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $137.40.

Canadian National Railway Stock Up 1.4%

CNI stock opened at $123.13 on Friday. The firm has a market capitalization of $74.51 billion, a PE ratio of 21.83, a P/E/G ratio of 2.17 and a beta of 0.94. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $131.55. The stock’s 50 day moving average is $125.68 and its 200-day moving average is $116.12.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.11. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the company posted $1.87 earnings per share. Canadian National Railway’s revenue was up 11.3% compared to the same quarter last year. Sell-side analysts expect that Canadian National Railway Company will post 5.82 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway’s payout ratio is currently 47.34%.

Canadian National Railway 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.