Canadian National Railway (NYSE:CNI) Shares Bought by Cumberland Partners Ltd

Cumberland Partners Ltd grew its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 6.4% in the third quarter, HoldingsChannel reports. The fund owned 278,413 shares of the transportation company’s stock after acquiring an additional 16,630 shares during the quarter. Canadian National Railway accounts for about 2.3% of Cumberland Partners Ltd’s portfolio, making the stock its 15th largest position. Cumberland Partners Ltd’s holdings in Canadian National Railway were worth $32,633,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CNI. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Canadian National Railway during the second quarter valued at $26,000. Addison Advisors LLC raised its position in shares of Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares in the last quarter. ORG Partners LLC acquired a new stake in Canadian National Railway in the 2nd quarter worth about $34,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Canadian National Railway during the third quarter valued at approximately $41,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Up 0.6 %

NYSE CNI traded up $0.68 on Tuesday, reaching $112.32. The stock had a trading volume of 69,246 shares, compared to its average volume of 1,111,376. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The stock has a fifty day moving average price of $114.58 and a two-hundred day moving average price of $118.03. Canadian National Railway has a 12-month low of $107.54 and a 12-month high of $134.02. The firm has a market capitalization of $70.63 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 2.49 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the company earned $1.26 EPS. Canadian National Railway’s revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts forecast that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is 39.90%.

Analyst Upgrades and Downgrades

CNI has been the topic of a number of research analyst reports. Bank of America lowered Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Stifel Nicolaus boosted their price target on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Barclays increased their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and a consensus price target of $125.48.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.