Letko Brosseau & Associates Inc. Invests $76.59 Million in Canadian National Railway Company $CNI

Letko Brosseau & Associates Inc. bought a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 773,340 shares of the transportation company’s stock, valued at approximately $76,586,000. Canadian National Railway accounts for approximately 1.3% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 29th biggest position.

Other large investors have also made changes to their positions in the company. Lincluden Management Ltd. raised its stake in shares of Canadian National Railway by 4.1% during the 3rd quarter. Lincluden Management Ltd. now owns 434,344 shares of the transportation company’s stock worth $40,717,000 after buying an additional 17,257 shares during the period. Kensington Investment Counsel LLC acquired a new position in shares of Canadian National Railway during the 3rd quarter worth approximately $3,079,000. Scharf Investments LLC acquired a new position in shares of Canadian National Railway during the 4th quarter worth approximately $8,283,000. CIBC Bancorp USA Inc. acquired a new position in shares of Canadian National Railway during the 3rd quarter worth approximately $32,174,000. Finally, Fisher Asset Management LLC raised its stake in shares of Canadian National Railway by 10.5% during the 4th quarter. Fisher Asset Management LLC now owns 2,279,778 shares of the transportation company’s stock worth $225,356,000 after buying an additional 216,963 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CNI. Weiss Ratings downgraded Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Barclays increased their price objective on Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Canadian Imperial Bank of Commerce increased their price objective on Canadian National Railway from C$164.00 to C$182.00 and gave the company an “outperformer” rating in a research note on Tuesday. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price objective for the company from $117.00 to $122.00 in a research note on Thursday, April 9th. Finally, Royal Bank Of Canada increased their price objective on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $122.04.

Canadian National Railway Stock Down 0.3%

Shares of NYSE:CNI opened at $120.40 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average of $112.34 and a two-hundred day moving average of $105.07. The stock has a market cap of $73.17 billion, a P/E ratio of 21.89, a PEG ratio of 2.31 and a beta of 0.96. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $122.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.31. The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $1.85 EPS. On average, research analysts expect that Canadian National Railway Company will post 5.76 earnings per share for the current year.

Canadian National Railway Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, June 9th. Canadian National Railway’s dividend payout ratio is presently 48.73%.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.