Pembroke Management LTD Raises Stake in Canadian National Railway Company $CNI

Pembroke Management LTD lifted its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 17.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,503 shares of the transportation company’s stock after purchasing an additional 1,820 shares during the quarter. Pembroke Management LTD’s holdings in Canadian National Railway were worth $1,301,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Founders Capital Management LLC acquired a new position in shares of Canadian National Railway in the second quarter worth $3,335,000. Goldman Sachs Group Inc. increased its position in Canadian National Railway by 39.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock worth $259,694,000 after purchasing an additional 755,518 shares in the last quarter. TD Asset Management Inc raised its stake in Canadian National Railway by 2.3% in 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 last quarter. Cardinal Capital Management Inc. lifted its holdings in Canadian National Railway by 3.1% in the 2nd quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company’s stock valued at $76,178,000 after purchasing an additional 22,035 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Canadian National Railway by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company’s stock worth $9,185,000 after purchasing an additional 3,400 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

CNI has been the subject of a number of analyst reports. National Bank Financial lowered shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 23rd. Bank of America lowered their target price on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Zacks Research lowered Canadian National Railway from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Susquehanna raised their price objective on Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a report on Monday, November 3rd. Finally, Wells Fargo & Company dropped their target price on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $114.00.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $94.52 on Tuesday. The firm has a fifty day moving average of $94.87 and a 200-day moving average of $98.59. Canadian National Railway Company has a 52-week low of $91.07 and a 52-week high of $112.97. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $58.48 billion, a P/E ratio of 18.18, a PEG ratio of 2.13 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the company earned $1.72 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. As a group, analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, December 9th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s dividend payout ratio (DPR) 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.