Charles Schwab Investment Management Inc. Boosts Stake in Canadian National Railway (NYSE:CNI)

Charles Schwab Investment Management Inc. increased its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,368,496 shares of the transportation company’s stock after purchasing an additional 66,531 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.22% of Canadian National Railway worth $160,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its position in Canadian National Railway by 14.0% during the 1st quarter. Advisors Asset Management Inc. now owns 8,174 shares of the transportation company’s stock valued at $1,077,000 after acquiring an additional 1,002 shares during the period. Ascent Group LLC boosted its position in shares of Canadian National Railway by 5.1% in the 1st quarter. Ascent Group LLC now owns 2,495 shares of the transportation company’s stock worth $329,000 after purchasing an additional 122 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Canadian National Railway by 2.0% in the 1st quarter. Janus Henderson Group PLC now owns 82,561 shares of the transportation company’s stock worth $10,874,000 after buying an additional 1,606 shares during the last quarter. Dynasty Wealth Management LLC purchased a new stake in shares of Canadian National Railway in the 1st quarter worth approximately $375,000. Finally, B. Riley Wealth Advisors Inc. increased its position in Canadian National Railway by 2.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after buying an additional 100 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CNI shares. Sanford C. Bernstein dropped their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. The Goldman Sachs Group decreased their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Bank of America cut Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $129.00 to $122.00 in a research report on Friday, October 4th. Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target on the stock in a report on Monday, October 7th. Finally, Susquehanna dropped their price objective on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.48.

Canadian National Railway Trading Up 1.9 %

Shares of Canadian National Railway stock opened at $111.24 on Monday. The company has a fifty day moving average of $113.14 and a 200 day moving average of $117.11. Canadian National Railway has a fifty-two week low of $105.28 and a fifty-two week high of $134.02. The company has a market capitalization of $70.06 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.51 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the company earned $1.26 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

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.