55,967 Shares in Canadian National Railway Company $CNI Purchased by Burkett Asset Management Ltd

Burkett Asset Management Ltd bought a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 55,967 shares of the transportation company’s stock, valued at approximately $5,543,000. Canadian National Railway accounts for approximately 5.6% of Burkett Asset Management Ltd’s investment portfolio, making the stock its 3rd biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Xponance LLC acquired a new stake in shares of Canadian National Railway during the fourth quarter worth about $234,000. UniSuper Management Pty Ltd lifted its holdings in shares of Canadian National Railway by 14.3% during the fourth quarter. UniSuper Management Pty Ltd now owns 10,400 shares of the transportation company’s stock worth $1,028,000 after purchasing an additional 1,300 shares during the period. Keel Point LLC acquired a new stake in shares of Canadian National Railway during the fourth quarter worth about $211,000. TCTC Holdings LLC lifted its holdings in shares of Canadian National Railway by 7,305.9% during the fourth quarter. TCTC Holdings LLC now owns 2,518 shares of the transportation company’s stock worth $249,000 after purchasing an additional 2,484 shares during the period. Finally, YCG LLC lifted its holdings in shares of Canadian National Railway by 0.5% during the fourth quarter. YCG LLC now owns 293,152 shares of the transportation company’s stock worth $28,978,000 after purchasing an additional 1,366 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays lifted their target price on Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Citigroup lifted their target price on Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Royal Bank Of Canada lifted their target price on Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Weiss Ratings cut Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price target for the company from $117.00 to $122.00 in a research report on Thursday, April 9th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $122.04.

Canadian National Railway Stock Down 0.7%

Shares of CNI stock opened at $118.30 on Friday. The stock has a 50 day moving average of $113.01 and a 200 day moving average of $105.44. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. The stock has a market cap of $71.77 billion, a P/E ratio of 21.51, a P/E/G ratio of 2.28 and a beta of 0.96. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $122.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share 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%.Canadian National Railway’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $1.85 earnings per share. As a group, sell-side analysts expect that Canadian National Railway Company will post 5.76 EPS for the current year.

Canadian National Railway Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, June 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 48.55%.

Canadian National Railway Profile

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.