Canadian National Railway Company $CNI Stock Purchased by BCV Asset Management Inc.

BCV Asset Management Inc. raised its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 297,509 shares of the transportation company’s stock after purchasing an additional 8,909 shares during the period. BCV Asset Management Inc.’s holdings in Canadian National Railway were worth $35,650,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CNI. Maryland State Retirement & Pension System raised its position in Canadian National Railway by 3.7% during the third quarter. Maryland State Retirement & Pension System now owns 63,327 shares of the transportation company’s stock worth $7,537,000 after acquiring an additional 2,264 shares during the last quarter. Ritholtz Wealth Management grew its position in shares of Canadian National Railway by 2.6% in the third quarter. Ritholtz Wealth Management now owns 22,134 shares of the transportation company’s stock valued at $2,632,000 after purchasing an additional 563 shares during the last quarter. First Command Advisory Services Inc. purchased a new position in shares of Canadian National Railway during the 3rd quarter worth approximately $39,000. Mesirow Financial Investment Management Inc. purchased a new position in shares of Canadian National Railway during the 3rd quarter worth approximately $278,000. Finally, Lido Advisors LLC increased its stake in shares of Canadian National Railway by 5.4% during the 3rd quarter. Lido Advisors LLC now owns 29,417 shares of the transportation company’s stock worth $3,498,000 after purchasing an additional 1,520 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays upped their target price on Canadian National Railway from $130.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, November 2nd. Raymond James Financial downgraded Canadian National Railway from a “moderate buy” rating to a “hold” rating in a research report on Monday, October 19th. Wells Fargo & Company raised their price target on Canadian National Railway from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Monday, July 27th. Finally, Susquehanna upped their price objective on Canadian National Railway from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 3rd. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and an average price target of $138.76.

Canadian National Railway Stock Down 0.5%

Shares of NYSE CNI opened at $127.12 on Friday. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $131.55. The firm’s 50 day moving average price is $121.98 and its 200 day moving average price is $116.73. The firm has a market cap of $76.59 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.34 and a beta of 0.90. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.61 and a current ratio of 0.82.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Friday, October 30th. The transportation company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.05. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.27 billion. Canadian National Railway had a return on equity of 22.82% and a net margin of 26.42%. Canadian National Railway’s revenue was down 99.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 EPS. As a group, sell-side analysts anticipate that Canadian National Railway Company will post 5.85 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 9th will be paid a C$0.92 dividend. This represents a $3.66 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, December 9th. Canadian National Railway’s dividend payout ratio is presently 45.30%.

About Canadian National Railway

Canadian National Railway, commonly known as CN, is a North American transportation and logistics company that operates a freight rail network connecting Canada’s Atlantic, Pacific and Gulf coasts with the United States. Its network serves customers across Canada and the U.S. Midwest and South. CN transports a range of commodities and manufactured goods, including intermodal shipments, grain and fertilizers, petroleum and chemicals, forest products, metals and minerals, and finished vehicles. The company also provides services such as rail-connected logistics and supply-chain solutions.