Canadian National Railway Company $CNI Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.8% during the third quarter, Holdings Channel.com reports. The firm owned 4,546,356 shares of the transportation company’s stock after buying an additional 248,401 shares during the quarter. Canadian National Railway accounts for approximately 1.4% of TD Waterhouse Canada Inc.’s holdings, making the stock its 17th biggest position. TD Waterhouse Canada Inc.’s holdings in Canadian National Railway were worth $532,519,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Triasima Portfolio Management inc. grew its position in Canadian National Railway by 35.6% in the 3rd quarter. Triasima Portfolio Management inc. now owns 145,653 shares of the transportation company’s stock valued at $17,379,000 after purchasing an additional 38,233 shares during the period. Assenagon Asset Management S.A. raised its holdings in Canadian National Railway by 1.0% during the third quarter. Assenagon Asset Management S.A. now owns 16,701 shares of the transportation company’s stock worth $1,993,000 after buying an additional 161 shares during the last quarter. Ninety One UK Ltd acquired a new position in Canadian National Railway during the third quarter worth $447,000. Focus Financial Network Inc. lifted its stake in shares of Canadian National Railway by 5.6% in the third quarter. Focus Financial Network Inc. now owns 1,956 shares of the transportation company’s stock valued at $233,000 after buying an additional 104 shares in the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in shares of Canadian National Railway in the third quarter valued at $310,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.9%

Canadian National Railway stock traded up $1.11 during trading on Friday, hitting $121.85. 809,684 shares of the company were exchanged, compared to its average volume of 1,052,668. The business’s 50 day moving average is $122.33 and its 200 day moving average is $119.02. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $131.55. The company has a market capitalization of $73.42 billion, a P/E ratio of 21.61, a PEG ratio of 2.16 and a beta of 0.96. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 0.99.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the business earned $1.87 EPS. The business’s revenue was up 11.3% on a year-over-year basis. Analysts predict that Canadian National Railway Company will post 5.80 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th were issued a C$0.92 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $3.66 annualized dividend and a dividend yield of 3.0%. Canadian National Railway’s dividend payout ratio is currently 46.10%.

Wall Street Analyst Weigh In

CNI has been the subject of a number of analyst reports. Susquehanna reduced their price objective on shares of Canadian National Railway from $142.00 to $130.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Monday, July 27th. Citizens Jmp began coverage on shares of Canadian National Railway in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Weiss Ratings raised shares of Canadian National Railway from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Finally, Bank of America dropped their price target on shares of Canadian National Railway from $146.00 to $143.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.49.

Canadian National Railway Profile

Canadian National Railway Company (NYSE:CNI) is a transportation and logistics company that operates a major freight rail network in Canada and the United States. Its network connects the Atlantic, Pacific and Gulf coasts, serving ports, industrial centers, agricultural regions and major population markets.

CN transports a broad range of commodities and manufactured goods, including forest products, grain and fertilizers, coal, metals and minerals, petroleum and chemicals, automotive products, and consumer goods.