Koch Industries Inc. acquired a new position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,117 shares of the transportation company’s stock, valued at approximately $257,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of CNI. Harding Loevner LP increased its position in shares of Canadian National Railway by 2,838.1% during the third quarter. Harding Loevner LP now owns 180,965,047 shares of the transportation company’s stock worth $366,305,000 after buying an additional 174,805,844 shares during the period. Mackenzie Financial Corp increased its position in shares of Canadian National Railway by 100.7% during the fourth quarter. Mackenzie Financial Corp now owns 6,556,905 shares of the transportation company’s stock worth $540,945,000 after buying an additional 3,289,767 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of Canadian National Railway during the fourth quarter worth $141,338,000. The Manufacturers Life Insurance Company increased its position in shares of Canadian National Railway by 29.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 5,941,493 shares of the transportation company’s stock worth $490,174,000 after buying an additional 1,344,029 shares during the period. Finally, Schroder Investment Management Group increased its position in shares of Canadian National Railway by 543.8% during the fourth quarter. Schroder Investment Management Group now owns 1,115,635 shares of the transportation company’s stock worth $115,636,000 after buying an additional 942,338 shares during the period. Institutional investors own 55.36% of the company’s stock.
Several research firms have recently weighed in on CNI. Credit Suisse Group decreased their price objective on shares of Canadian National Railway from $85.00 to $83.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research report on Monday, December 11th. Cowen reiterated an “outperform” rating and set a $90.00 price objective (up from $88.00) on shares of Canadian National Railway in a research report on Wednesday, January 24th. Finally, Bank of America cut shares of Canadian National Railway from a “neutral” rating to an “underperform” rating in a research report on Tuesday, March 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $82.57.
Canadian National Railway (CNI) opened at $73.64 on Friday. The stock has a market cap of $55,278.44, a price-to-earnings ratio of 19.28, a P/E/G ratio of 1.95 and a beta of 1.00. Canadian National Railway has a 12 month low of $71.02 and a 12 month high of $85.73. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.44 and a current ratio of 0.55.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, January 23rd. The transportation company reported $0.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.04). The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.61 billion. Canadian National Railway had a return on equity of 24.62% and a net margin of 42.25%. analysts predict that Canadian National Railway will post 4.1 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 8th will be paid a dividend of $0.3665 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.47 annualized dividend and a yield of 1.99%. Canadian National Railway’s dividend payout ratio is currently 26.06%.
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Canadian National Railway Profile
Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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