Burgundy Asset Management Ltd. Raises Stock Holdings in Canadian National Railway Company $CNI

Burgundy Asset Management Ltd. raised its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 19.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 845,531 shares of the transportation company’s stock after purchasing an additional 136,747 shares during the period. Burgundy Asset Management Ltd.’s holdings in Canadian National Railway were worth $81,803,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Addison Advisors LLC lifted its position in shares of Canadian National Railway by 124.0% during the 2nd quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock valued at $28,000 after buying an additional 150 shares in the last quarter. Hollencrest Capital Management acquired a new position in Canadian National Railway during the third quarter worth $28,000. First Horizon Corp purchased a new position in Canadian National Railway during the third quarter valued at $30,000. Costello Asset Management INC grew its position in shares of Canadian National Railway by 83.3% in the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 150 shares during the period. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Canadian National Railway during the third quarter worth about $50,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CNI. Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Barclays decreased their target price on Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, February 2nd. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and boosted their price target for the stock from $146.00 to $151.00 in a research report on Friday, November 28th. UBS Group downgraded Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.91.

Canadian National Railway Stock Performance

NYSE CNI opened at $110.76 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. The stock’s fifty day moving average is $102.60 and its two-hundred day moving average is $97.96. The firm has a market capitalization of $67.91 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 2.34 and a beta of 0.90. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $113.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.82 EPS. On average, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 3.3%. 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 presently 46.59%.

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.