TD Waterhouse Canada Inc. Increases Stake in Canadian National Railway Company $CNI

TD Waterhouse Canada Inc. grew its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,844,782 shares of the transportation company’s stock after acquiring an additional 44,633 shares during the period. Canadian National Railway accounts for 1.4% of TD Waterhouse Canada Inc.’s portfolio, making the stock its 19th largest holding. TD Waterhouse Canada Inc. owned 0.29% of Canadian National Railway worth $193,340,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. FineMark National Bank & Trust lifted its position in Canadian National Railway by 1.1% during the second quarter. FineMark National Bank & Trust now owns 24,903 shares of the transportation company’s stock valued at $2,591,000 after purchasing an additional 281 shares in the last quarter. Greenland Capital Management LP bought a new position in shares of Canadian National Railway in the second quarter worth about $1,011,000. Vanguard Group Inc. raised its stake 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 worth $2,493,163,000 after buying an additional 761,454 shares during the period. Frank Rimerman Advisors LLC purchased a new position in shares of Canadian National Railway during the 2nd quarter valued at about $457,000. Finally, Nordwand Advisors LLC bought a new position in shares of Canadian National Railway during the 2nd quarter valued at approximately $479,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $93.95 on Wednesday. The firm’s fifty day moving average is $94.88 and its two-hundred day moving average is $98.54. Canadian National Railway Company has a 52-week low of $91.07 and a 52-week high of $112.97. The company has a market cap of $57.92 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.13 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $4.15 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.72 earnings per share. As a group, analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be issued a dividend of $0.8875 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $3.55 annualized dividend and a dividend yield of 3.8%. Canadian National Railway’s payout ratio is currently 48.01%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CNI shares. Royal Bank Of Canada lifted their price target on shares of Canadian National Railway from $148.00 to $158.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Zacks Research cut shares of Canadian National Railway from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Canadian National Railway in a report on Wednesday, October 8th. Bank of America decreased their price target on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Canadian National Railway in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $114.00.

About Canadian National Railway

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.