Triasima Portfolio Management inc. Acquires 38,233 Shares of Canadian National Railway Company $CNI

Triasima Portfolio Management inc. lifted its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 35.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 145,653 shares of the transportation company’s stock after buying an additional 38,233 shares during the period. Canadian National Railway comprises about 2.2% of Triasima Portfolio Management inc.’s portfolio, making the stock its 7th biggest holding. Triasima Portfolio Management inc.’s holdings in Canadian National Railway were worth $17,379,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Canadian National Railway by 1.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 16,701 shares of the transportation company’s stock worth $1,993,000 after buying an additional 161 shares during the last quarter. Ninety One UK Ltd acquired a new stake in Canadian National Railway in the third quarter valued at about $447,000. Focus Financial Network Inc. grew its position in Canadian National Railway by 5.6% in the third quarter. Focus Financial Network Inc. now owns 1,956 shares of the transportation company’s stock valued at $233,000 after acquiring an additional 104 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Canadian National Railway in the third quarter valued at about $310,000. Finally, Farther Finance Advisors LLC grew its position in Canadian National Railway by 5.2% in the third quarter. Farther Finance Advisors LLC now owns 8,132 shares of the transportation company’s stock valued at $967,000 after acquiring an additional 405 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Up 0.9%

Shares of NYSE:CNI opened at $120.90 on Friday. The company has a fifty day moving average of $122.42 and a 200-day moving average of $119.00. The company has a market capitalization of $72.84 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $131.55.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the company earned $1.87 EPS. Canadian National Railway’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Canadian National Railway Company will post 5.80 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th were given a dividend of C$0.92 per share. The ex-dividend date was Tuesday, September 8th. This represents a $3.66 dividend on an annualized basis and a yield of 3.0%. Canadian National Railway’s payout ratio is currently 46.10%.

Analysts Set New Price Targets

CNI has been the subject of several research analyst reports. Citigroup lowered their target price on Canadian National Railway from $151.00 to $143.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. Stephens raised shares of Canadian National Railway to a “hold” rating in a report on Wednesday, July 8th. National Bank Financial set a $124.00 price target on shares of Canadian National Railway in a research note on Thursday, June 25th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Monday, July 27th. Finally, Royal Bank Of Canada lifted their price target on shares of Canadian National Railway from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.49.

Canadian National Railway Profile

Canadian National Railway Company (NYSE:CNI) is a transportation and logistics company that operates a major freight rail network in Canada and the United States. Its network connects the Atlantic, Pacific and Gulf coasts, serving ports, industrial centers, agricultural regions and major population markets.

CN transports a broad range of commodities and manufactured goods, including forest products, grain and fertilizers, coal, metals and minerals, petroleum and chemicals, automotive products, and consumer goods.