Signaturefd LLC acquired a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,537 shares of the transportation company’s stock, valued at approximately $209,000.
Other large investors have also recently made changes to their positions in the company. Jarislowsky Fraser Ltd increased its stake in Canadian National Railway by 0.3% in the third quarter. Jarislowsky Fraser Ltd now owns 10,255,502 shares of the transportation company’s stock valued at $847,732,000 after acquiring an additional 25,974 shares during the last quarter. ING Groep NV bought a new position in Canadian National Railway in the fourth quarter valued at approximately $3,328,000. Oppenheimer & Co. Inc. increased its stake in Canadian National Railway by 82.0% in the third quarter. Oppenheimer & Co. Inc. now owns 91,516 shares of the transportation company’s stock valued at $7,582,000 after acquiring an additional 41,233 shares during the last quarter. Dempze Nancy E increased its stake in Canadian National Railway by 16.7% in the fourth quarter. Dempze Nancy E now owns 29,354 shares of the transportation company’s stock valued at $2,420,000 after acquiring an additional 4,193 shares during the last quarter. Finally, FDx Advisors Inc. increased its stake in Canadian National Railway by 20.2% in the third quarter. FDx Advisors Inc. now owns 26,238 shares of the transportation company’s stock valued at $2,174,000 after acquiring an additional 4,411 shares during the last quarter. 55.36% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the stock. Credit Suisse Group decreased their price objective on shares of Canadian National Railway from $85.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. TD Securities raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, December 11th. Cowen reissued an “outperform” rating and issued a $90.00 price objective (up from $88.00) on shares of Canadian National Railway in a research note on Wednesday, January 24th. Finally, Bank of America lowered shares of Canadian National Railway from a “neutral” rating to an “underperform” rating in a research report on Tuesday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $82.57.
Shares of Canadian National Railway (CNI) traded up $0.18 during trading on Wednesday, reaching $74.50. 929,164 shares of the company’s stock were exchanged, compared to its average volume of 1,597,228. Canadian National Railway has a 1 year low of $71.02 and a 1 year high of $85.73. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.55 and a quick ratio of 0.44. The firm has a market capitalization of $55,426.58, a price-to-earnings ratio of 13.19, a P/E/G ratio of 1.96 and a beta of 1.00.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.04). The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.61 billion. Canadian National Railway had a net margin of 42.25% and a return on equity of 24.62%. research analysts expect that Canadian National Railway will post 4.1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 8th will be issued a dividend of $0.3665 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Wednesday, March 7th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. Canadian National Railway’s payout ratio is 26.06%.
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About Canadian National Railway
Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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