Gradient Investments LLC Grows Stake in Canadian National Railway Company $CNI

Gradient Investments LLC raised its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 77.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,723 shares of the transportation company’s stock after purchasing an additional 5,111 shares during the period. Gradient Investments LLC’s holdings in Canadian National Railway were worth $1,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNI. Vanguard Group Inc. raised its holdings in shares of Canadian National Railway by 3.3% in the second quarter. Vanguard Group Inc. now owns 23,927,393 shares of the transportation company’s stock valued at $2,493,163,000 after acquiring an additional 761,454 shares in the last quarter. TD Asset Management Inc increased its position in Canadian National Railway by 2.3% during the 2nd quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock valued at $1,255,385,000 after purchasing an additional 273,974 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of Canadian National Railway by 6.0% in the 1st quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company’s stock valued at $1,095,793,000 after purchasing an additional 636,147 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Canadian National Railway by 26.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock worth $695,048,000 after purchasing an additional 1,408,978 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Canadian National Railway by 20.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock valued at $646,983,000 after purchasing an additional 1,148,569 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CNI. Citigroup boosted their price objective on shares of Canadian National Railway from $119.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Canadian National Railway in a research note on Wednesday, October 8th. Evercore ISI raised their price objective on Canadian National Railway from $98.00 to $103.00 and gave the company an “in-line” rating in a research report on Monday, November 3rd. Finally, Wall Street Zen upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $117.36.

Canadian National Railway Stock Up 2.2%

Canadian National Railway stock opened at $99.54 on Friday. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $108.75. The business has a fifty day moving average price of $95.73 and a 200-day moving average price of $97.35. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.60 and a quick ratio of 0.42. The stock has a market capitalization of $61.25 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.19 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a return on equity of 21.50% and a net margin of 26.86%.The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $1.72 earnings per share. Equities research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th will be given a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, December 9th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s payout ratio is 48.01%.

Canadian National Railway Company Profile

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.