CIBC Private Wealth Group LLC grew its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 11.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,843 shares of the transportation company’s stock after acquiring an additional 12,361 shares during the period. CIBC Private Wealth Group LLC’s holdings in Canadian National Railway were worth $10,367,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Centersquare Investment Management LLC acquired a new position in Canadian National Railway during the first quarter valued at approximately $49,000. Financial Counselors Inc. raised its position in Canadian National Railway by 70.0% during the first quarter. Financial Counselors Inc. now owns 19,586 shares of the transportation company’s stock valued at $1,753,000 after purchasing an additional 8,068 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Canadian National Railway by 12.6% during the first quarter. Nomura Asset Management Co. Ltd. now owns 46,134 shares of the transportation company’s stock valued at $4,134,000 after purchasing an additional 5,164 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Canadian National Railway by 0.7% during the first quarter. PNC Financial Services Group Inc. now owns 157,395 shares of the transportation company’s stock valued at $14,083,000 after purchasing an additional 1,109 shares in the last quarter. Finally, Icon Wealth Partners LLC acquired a new position in Canadian National Railway during the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 54.23% of the company’s stock.

CNI has been the subject of several research analyst reports. BMO Capital Markets upgraded shares of Canadian National Railway to a “market perform” rating and set a $125.00 price objective for the company in a research report on Tuesday, April 30th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on shares of Canadian National Railway from $87.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Royal Bank of Canada downgraded shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating and set a $92.00 price objective for the company. in a research report on Tuesday, April 30th. National Bank Financial restated a “hold” rating on shares of Canadian National Railway in a research report on Thursday, March 28th. Finally, ValuEngine upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $98.12.

CNI stock opened at $88.59 on Friday. The firm has a market capitalization of $64.63 billion, a P/E ratio of 20.64, a PEG ratio of 1.82 and a beta of 1.07. The company has a current ratio of 0.75, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Canadian National Railway has a 12-month low of $70.36 and a 12-month high of $95.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Monday, April 29th. The transportation company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.28. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.48 billion. Canadian National Railway had a net margin of 29.86% and a return on equity of 23.64%. Canadian National Railway’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 earnings per share. Equities analysts anticipate that Canadian National Railway will post 4.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.3982 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.59 annualized dividend and a yield of 1.80%. Canadian National Railway’s payout ratio is 38.46%.

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Canadian National Railway Company Profile

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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