Kestra Investment Management LLC Buys New Position in Canadian National Railway (NYSE:CNI)

Kestra Investment Management LLC bought a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 576 shares of the transportation company’s stock, valued at approximately $59,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in Canadian National Railway by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock valued at $2,175,935,000 after acquiring an additional 790,420 shares during the period. National Bank of Canada FI boosted its holdings in Canadian National Railway by 46.5% during the 3rd quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after acquiring an additional 2,137,948 shares during the period. Fiera Capital Corp boosted its holdings in Canadian National Railway by 2.6% during the 4th quarter. Fiera Capital Corp now owns 5,624,594 shares of the transportation company’s stock valued at $570,550,000 after acquiring an additional 142,070 shares during the period. CIBC Asset Management Inc boosted its holdings in Canadian National Railway by 12.6% during the 4th quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company’s stock valued at $519,843,000 after acquiring an additional 571,967 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Canadian National Railway by 5.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after acquiring an additional 202,303 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CNI shares. 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. Evercore ISI raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. TD Securities raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. Jefferies Financial Group raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Friday, January 10th. Finally, Susquehanna reduced their price target on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, seven have given 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 a consensus rating of “Moderate Buy” and a consensus price target of $124.19.

Canadian National Railway Trading Up 0.1 %

CNI opened at $103.98 on Friday. The firm has a market cap of $65.33 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.93 and a beta of 0.91. Canadian National Railway has a 52 week low of $98.69 and a 52 week high of $134.02. The business’s 50 day moving average is $102.64 and its two-hundred day moving average is $109.42. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. On average, research analysts predict that Canadian National Railway will post 5.5 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given 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 annualized dividend and a yield of 2.37%. Canadian National Railway’s payout ratio is 47.66%.

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.