Picton Mahoney Asset Management Has $16.42 Million Stock Position in Canadian National Railway Company $CNI

Picton Mahoney Asset Management lowered its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 21.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,203 shares of the transportation company’s stock after selling 48,654 shares during the period. Picton Mahoney Asset Management’s holdings in Canadian National Railway were worth $16,423,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC bought a new stake in shares of Canadian National Railway in the third quarter worth about $215,000. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Canadian National Railway by 0.3% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 192,355 shares of the transportation company’s stock valued at $18,139,000 after purchasing an additional 513 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Canadian National Railway by 13.1% in the 3rd quarter. Fisher Asset Management LLC now owns 2,062,815 shares of the transportation company’s stock valued at $194,523,000 after purchasing an additional 239,015 shares during the period. Aviso Financial Inc. increased its stake in Canadian National Railway by 4.9% during the 3rd quarter. Aviso Financial Inc. now owns 183,692 shares of the transportation company’s stock worth $17,325,000 after purchasing an additional 8,591 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Canadian National Railway by 22.6% during the 3rd quarter. American Century Companies Inc. now owns 250,347 shares of the transportation company’s stock worth $23,608,000 after purchasing an additional 46,218 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Trading Down 1.6%

Shares of NYSE:CNI opened at $111.19 on Wednesday. The company’s 50-day moving average price is $102.35 and its two-hundred day moving average price is $97.87. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47. Canadian National Railway Company has a one year low of $90.74 and a one year high of $113.08. The stock has a market capitalization of $68.17 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.38 and a beta of 0.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.Canadian National Railway’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 EPS. On average, equities analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.915 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 annualized dividend and a dividend yield of 3.3%. Canadian National Railway’s payout ratio is presently 46.59%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CNI shares. Vertical Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Barclays reduced their target price on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, February 2nd. Zacks Research raised Canadian National Railway from a “strong sell” rating to a “hold” rating in a research note on Friday, November 28th. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and boosted their price target for the company from $146.00 to $151.00 in a report on Friday, November 28th. Finally, Citigroup reduced their price objective on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Canadian National Railway currently has a consensus rating of “Moderate Buy” and an average price target of $118.91.

About Canadian National Railway

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.