Canadian National Railway (NYSE:CNI) Shares Bought by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. grew its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 490,939 shares of the transportation company’s stock after purchasing an additional 11,004 shares during the period. Canadian National Railway makes up 2.3% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 20th largest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Canadian National Railway were worth $49,853,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNI. American Century Companies Inc. increased its holdings in Canadian National Railway by 22.2% in the 2nd quarter. American Century Companies Inc. now owns 127,342 shares of the transportation company’s stock valued at $15,048,000 after purchasing an additional 23,150 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Canadian National Railway by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,102,997 shares of the transportation company’s stock valued at $130,297,000 after buying an additional 48,984 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Canadian National Railway in the second quarter valued at $1,725,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Canadian National Railway by 5.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,665 shares of the transportation company’s stock valued at $1,714,000 after buying an additional 709 shares during the period. Finally, Seven Eight Capital LP acquired a new position in Canadian National Railway during the 2nd quarter worth about $1,873,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. TD Securities raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price target for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.77.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $101.33 on Thursday. Canadian National Railway has a 12 month low of $98.96 and a 12 month high of $134.02. The firm has a market capitalization of $63.72 billion, a P/E ratio of 16.24, a P/E/G ratio of 2.21 and a beta of 0.91. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The company’s fifty day moving average price is $106.08 and its 200 day moving average price is $112.17.

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

Canadian National Railway Cuts Dividend

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

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.