Tobam Raises Position in Canadian National Railway (NYSE:CNI)

Tobam raised its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 297.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,517 shares of the transportation company’s stock after buying an additional 1,883 shares during the quarter. Tobam’s holdings in Canadian National Railway were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CNI. National Bank of Canada FI lifted its position in Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after purchasing an additional 2,137,948 shares during the last quarter. Canoe Financial LP purchased a new stake in shares of Canadian National Railway during the 4th quarter valued at $216,943,000. Point72 Asset Management L.P. bought a new stake in shares of Canadian National Railway during the 3rd quarter worth $159,907,000. Wellington Management Group LLP grew its position in Canadian National Railway by 4.4% in the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after acquiring an additional 790,420 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Canadian National Railway by 64.5% in the third quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock valued at $174,813,000 after acquiring an additional 584,832 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNI has been the subject of a number of research reports. Stephens reiterated an “equal weight” rating and issued a $116.00 price objective on shares of Canadian National Railway in a report on Wednesday, October 23rd. TD Securities upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus boosted their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Jefferies Financial Group raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Canadian National Railway presently has an average rating of “Moderate Buy” and an average price target of $124.19.

Canadian National Railway Trading Down 1.6 %

CNI opened at $101.53 on Friday. Canadian National Railway has a one year low of $98.69 and a one year high of $134.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. The business has a 50 day simple moving average of $103.76 and a two-hundred day simple moving average of $110.40. The firm has a market capitalization of $63.85 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 1.94 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. Analysts predict that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.6159 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.43%. Canadian National Railway’s payout ratio is presently 46.68%.

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.