TD Waterhouse Canada Inc. Grows Stake in Canadian National Railway Company $CNI

TD Waterhouse Canada Inc. boosted its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,875,427 shares of the transportation company’s stock after purchasing an additional 30,645 shares during the quarter. Canadian National Railway comprises 1.2% of TD Waterhouse Canada Inc.’s portfolio, making the stock its 23rd biggest holding. TD Waterhouse Canada Inc. owned 0.30% of Canadian National Railway worth $176,926,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in Canadian National Railway in the 1st quarter valued at $311,000. Focus Partners Wealth increased its holdings in shares of Canadian National Railway by 11.1% in the first 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 last quarter. Park Avenue Securities LLC bought a new stake in shares of Canadian National Railway in the second quarter worth about $379,000. Ninety One UK Ltd increased its stake in Canadian National Railway by 7.9% in the 2nd quarter. Ninety One UK Ltd now owns 2,050,826 shares of the transportation company’s stock worth $213,259,000 after acquiring an additional 149,484 shares during the last quarter. Finally, Gold Investment Management Ltd. increased its position in Canadian National Railway by 1.4% in the second quarter. Gold Investment Management Ltd. now owns 51,016 shares of the transportation company’s stock worth $5,325,000 after purchasing an additional 694 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CNI has been the subject of several recent analyst reports. Wall Street Zen upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Cibc Captl Mkts raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. 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 raised their price target on shares of Canadian National Railway from $148.00 to $158.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Finally, Barclays raised their price objective on Canadian National Railway from $97.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $117.64.

Canadian National Railway Trading Down 1.9%

Shares of CNI stock opened at $98.59 on Thursday. The stock’s fifty day moving average is $97.86 and its two-hundred day moving average is $96.22. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.42 and a current ratio of 0.60. The firm has a market capitalization of $60.58 billion, a P/E ratio of 18.71, a PEG ratio of 2.10 and a beta of 0.96. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $108.75.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.05. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a net margin of 26.86% and a return on equity of 21.50%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 EPS. Research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th were paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.6%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date was Tuesday, December 9th. Canadian National Railway’s payout ratio is presently 48.01%.

Canadian National Railway Company 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.