Patrick Mauro Investment Advisor INC. Increases Holdings in Canadian National Railway Company $CNI

Patrick Mauro Investment Advisor INC. increased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 15.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,206 shares of the transportation company’s stock after purchasing an additional 4,834 shares during the quarter. Canadian National Railway makes up about 1.7% of Patrick Mauro Investment Advisor INC.’s portfolio, making the stock its 22nd biggest position. Patrick Mauro Investment Advisor INC.’s holdings in Canadian National Railway were worth $3,320,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CNI. Hollencrest Capital Management bought a new stake in shares of Canadian National Railway in the 3rd quarter valued at about $28,000. First Horizon Corp bought a new position in shares of Canadian National Railway during the 3rd quarter worth approximately $30,000. Costello Asset Management INC lifted its position in Canadian National Railway by 83.3% during the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 150 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in Canadian National Railway during the third quarter valued at approximately $50,000. Finally, Private Trust Co. NA boosted its stake in Canadian National Railway by 30.8% in the third quarter. Private Trust Co. NA now owns 603 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 142 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

NYSE:CNI opened at $104.98 on Friday. 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 company has a 50 day moving average price of $103.64 and a 200-day moving average price of $98.53. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $113.08. The firm has a market cap of $64.37 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 2.16 and a beta of 0.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly 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 net margin of 27.28% and a return on equity of 22.14%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the prior year, the firm posted $1.82 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company 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 dividend of $0.915 per share. This represents a $3.66 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, March 10th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio is currently 49.36%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CNI. Citigroup cut their price target on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating on the stock in a 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. Stephens lowered their price objective on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, February 2nd. Barclays dropped their target price on Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Monday, February 2nd. Finally, UBS Group lowered Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.