Nexus Investment Management ULC Has $28.21 Million Stock Position in Canadian National Railway (NYSE:CNI)

Nexus Investment Management ULC grew its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 542.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 278,462 shares of the transportation company’s stock after acquiring an additional 235,085 shares during the quarter. Canadian National Railway accounts for about 2.8% of Nexus Investment Management ULC’s holdings, making the stock its 18th largest position. Nexus Investment Management ULC’s holdings in Canadian National Railway were worth $28,213,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Grove Bank & Trust lifted its position in Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after purchasing an additional 97 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Canadian National Railway by 48.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after buying an additional 108 shares in the last quarter. Catalytic Wealth RIA LLC lifted its holdings in shares of Canadian National Railway by 2.3% during the 3rd quarter. Catalytic Wealth RIA LLC now owns 5,582 shares of the transportation company’s stock worth $654,000 after acquiring an additional 123 shares during the period. Harrington Investments INC lifted its holdings in shares of Canadian National Railway by 0.6% during the 3rd quarter. Harrington Investments INC now owns 20,346 shares of the transportation company’s stock worth $2,384,000 after acquiring an additional 130 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Canadian National Railway by 15.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the transportation company’s stock valued at $113,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $101.54 on Friday. The stock has a market cap of $63.85 billion, a price-to-earnings ratio of 16.27, a P/E/G ratio of 2.21 and a beta of 0.91. Canadian National Railway has a 12-month low of $98.96 and a 12-month high of $134.02. 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 business’s 50-day simple moving average is $105.44 and its 200 day simple moving average is $111.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 EPS. As a group, research analysts anticipate that Canadian National Railway will post 5.21 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 38.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CNI shares. Jefferies Financial Group upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Friday, January 10th. Bank of America cut their target price on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Barclays lowered their price target on Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.02.

About Canadian National Railway

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.