Hillsdale Investment Management Inc. Increases Stake in Canadian National Railway Company $CNI

Hillsdale Investment Management Inc. raised its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 21.2% in the first quarter, HoldingsChannel reports. The fund owned 96,553 shares of the transportation company’s stock after purchasing an additional 16,856 shares during the period. Hillsdale Investment Management Inc.’s holdings in Canadian National Railway were worth $9,935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. LGT Fund Management Co Ltd. grew its stake in shares of Canadian National Railway by 98.1% during the 1st quarter. LGT Fund Management Co Ltd. now owns 40,889 shares of the transportation company’s stock worth $4,209,000 after purchasing an additional 20,249 shares during the period. Carnegie Investment Counsel lifted its stake in shares of Canadian National Railway by 7.9% in the 1st quarter. Carnegie Investment Counsel now owns 3,763 shares of the transportation company’s stock valued at $387,000 after purchasing an additional 277 shares during the period. Fifth Third Bancorp lifted its stake in shares of Canadian National Railway by 22.8% in the 1st quarter. Fifth Third Bancorp now owns 15,366 shares of the transportation company’s stock valued at $1,579,000 after purchasing an additional 2,849 shares during the period. Markel Group Inc. lifted its stake in shares of Canadian National Railway by 20.2% in the 1st quarter. Markel Group Inc. now owns 53,500 shares of the transportation company’s stock valued at $5,498,000 after purchasing an additional 9,000 shares during the period. Finally, Farrow Financial Inc. boosted its holdings in Canadian National Railway by 9.3% during the first quarter. Farrow Financial Inc. now owns 24,752 shares of the transportation company’s stock worth $2,544,000 after buying an additional 2,102 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on CNI shares. National Bank Financial set a $124.00 price target on shares of Canadian National Railway in a research report on Thursday, June 25th. Weiss Ratings downgraded shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Citigroup increased their target price on shares of Canadian National Railway from $124.00 to $141.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Sanford C. Bernstein raised their target price on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. Finally, Royal Bank Of Canada lifted their price target on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.94.

Canadian National Railway Trading Up 0.8%

Shares of NYSE:CNI opened at $125.36 on Tuesday. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $126.12. The firm has a market capitalization of $75.97 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 2.35 and a beta of 0.96. 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 business’s 50 day moving average price is $117.25 and its 200-day moving average price is $108.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released 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. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $1.85 EPS. On average, equities research analysts forecast that Canadian National Railway Company will post 5.72 earnings per share for the current fiscal year.

Canadian National Railway Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 48.55%.

Canadian National Railway Company Profile

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.