Clearbridge Investments LLC Boosts Holdings in Canadian National Railway Company $CNI

Clearbridge Investments LLC raised its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 27.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,481,206 shares of the transportation company’s stock after buying an additional 976,324 shares during the quarter. Clearbridge Investments LLC owned approximately 0.73% of Canadian National Railway worth $442,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in shares of Canadian National Railway during the 1st quarter worth about $311,000. Focus Partners Wealth grew its holdings in shares of Canadian National Railway by 11.1% during the 1st quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after purchasing an additional 1,146 shares during the period. Schnieders Capital Management LLC. purchased a new stake in shares of Canadian National Railway during the 2nd quarter worth about $202,000. EverSource Wealth Advisors LLC grew its holdings in shares of Canadian National Railway by 52.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock worth $116,000 after purchasing an additional 383 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in shares of Canadian National Railway by 2.9% during the 2nd quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company’s stock worth $1,778,000 after purchasing an additional 474 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CNI shares. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $117.00 to $122.00 in a report on Thursday, April 9th. Sanford C. Bernstein boosted their target price on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Weiss Ratings cut Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Barclays boosted their target price on Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Finally, Citigroup boosted their target price on Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.04.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $120.50 on Friday. The stock’s 50 day moving average price is $111.57 and its 200 day moving average price is $104.63. The firm has a market capitalization of $73.23 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67. Canadian National Railway Company has a one year low of $90.74 and a one year high of $122.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the company posted $1.85 EPS. Canadian National Railway’s quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts expect that Canadian National Railway Company will post 5.76 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 9th. Canadian National Railway’s dividend payout ratio is presently 48.73%.

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.