Reflection Asset Management Purchases New Position in Canadian National Railway Company $CNI

Reflection Asset Management acquired a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,106 shares of the transportation company’s stock, valued at approximately $1,592,000. Canadian National Railway makes up about 1.1% of Reflection Asset Management’s investment portfolio, making the stock its 21st largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lincluden Management Ltd. increased its holdings in Canadian National Railway by 4.1% in the 3rd quarter. Lincluden Management Ltd. now owns 434,344 shares of the transportation company’s stock worth $40,717,000 after acquiring an additional 17,257 shares in the last quarter. Kensington Investment Counsel LLC purchased a new position in Canadian National Railway during the third quarter valued at $3,079,000. Scharf Investments LLC purchased a new position in Canadian National Railway during the fourth quarter valued at $8,283,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Canadian National Railway in the third quarter valued at about $32,174,000. Finally, Fisher Asset Management LLC increased its stake in shares of Canadian National Railway by 10.5% during the fourth quarter. Fisher Asset Management LLC now owns 2,279,778 shares of the transportation company’s stock worth $225,356,000 after purchasing an additional 216,963 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

CNI has been the subject of several recent research reports. Canadian Imperial Bank of Commerce increased their price objective on Canadian National Railway from C$164.00 to C$182.00 and gave the company an “outperformer” rating in a research note on Tuesday, June 9th. Sanford C. Bernstein upped their target price on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the company from $117.00 to $122.00 in a report on Thursday, April 9th. Barclays raised their price objective on shares of Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings lowered shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Nine research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $122.04.

Canadian National Railway Stock Performance

NYSE CNI opened at $113.42 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. The company has a market cap of $68.81 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.17 and a beta of 0.96. The stock has a 50-day moving average of $114.30 and a two-hundred day moving average of $106.30. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $122.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the company earned $1.85 EPS. Canadian National Railway’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts anticipate that Canadian National Railway Company will post 5.76 EPS for the current year.

Canadian National Railway Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.2%. Canadian National Railway’s dividend payout ratio is 48.55%.

About Canadian National Railway

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.