Canadian National Railway Company $CNI Shares Bought by Claret Asset Management Corp

Claret Asset Management Corp raised its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 362.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,910 shares of the transportation company’s stock after purchasing an additional 61,080 shares during the period. Canadian National Railway accounts for approximately 0.9% of Claret Asset Management Corp’s portfolio, making the stock its 28th largest holding. Claret Asset Management Corp’s holdings in Canadian National Railway were worth $7,347,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CNI. Cardinal Point Capital Management ULC lifted its stake in Canadian National Railway by 28.8% in the 3rd 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 in the last quarter. Westerkirk Capital Inc. acquired a new stake in shares of Canadian National Railway during the second quarter valued at $3,448,000. Lorne Steinberg Wealth Management Inc. increased its position in Canadian National Railway by 23.3% during 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 in the last quarter. Cardinal Capital Management Inc. boosted its position in Canadian National Railway by 1.5% during the third quarter. Cardinal Capital Management Inc. now owns 742,230 shares of the transportation company’s stock worth $70,038,000 after acquiring an additional 10,880 shares during the last quarter. Finally, Nicola Wealth Management LTD. grew its stake in Canadian National Railway by 13.9% in the 3rd quarter. Nicola Wealth Management LTD. now owns 198,800 shares of the transportation company’s stock worth $18,749,000 after acquiring an additional 24,200 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNI has been the topic of a number of recent analyst reports. UBS Group lowered Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Stephens reduced their target price on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, February 2nd. Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Royal Bank Of Canada cut their price objective on shares of Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, February 2nd. Finally, Evercore lowered their target price on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a report on Monday, February 2nd. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.91.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $108.04 on Tuesday. The company has a market cap of $66.24 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $113.08. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47. The stock’s 50-day moving average is $103.16 and its 200-day moving average is $98.29.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the business earned $1.82 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be paid a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s payout ratio is 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.