OLD National Bancorp IN Raises Stock Holdings in Canadian National Railway (NYSE:CNI)

OLD National Bancorp IN raised its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,600 shares of the transportation company’s stock after buying an additional 196 shares during the quarter. OLD National Bancorp IN’s holdings in Canadian National Railway were worth $327,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tacita Capital Inc lifted its position in Canadian National Railway by 0.4% during the third quarter. Tacita Capital Inc now owns 27,356 shares of the transportation company’s stock worth $2,972,000 after buying an additional 97 shares during the period. Signaturefd LLC increased its stake in Canadian National Railway by 1.0% during the third quarter. Signaturefd LLC now owns 10,739 shares of the transportation company’s stock worth $1,163,000 after acquiring an additional 110 shares during the last quarter. Legacy Wealth Asset Management LLC increased its stake in Canadian National Railway by 1.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,496 shares of the transportation company’s stock worth $1,137,000 after acquiring an additional 111 shares during the last quarter. First Foundation Advisors increased its stake in Canadian National Railway by 0.9% during the third quarter. First Foundation Advisors now owns 12,852 shares of the transportation company’s stock worth $1,392,000 after acquiring an additional 111 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of Canadian National Railway by 17.4% in the third quarter. Hexagon Capital Partners LLC now owns 761 shares of the transportation company’s stock valued at $82,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CNI. Citigroup increased their target price on Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Stephens reiterated an “equal weight” rating and issued a $140.00 target price on shares of Canadian National Railway in a research note on Wednesday. Susquehanna Bancshares increased their target price on Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a research note on Monday, January 8th. CIBC lowered Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus raised their price objective on Canadian National Railway from $121.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Eighteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $148.60.

Canadian National Railway Stock Up 1.6 %

CNI opened at $124.78 on Friday. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The stock has a market cap of $79.70 billion, a P/E ratio of 19.90, a P/E/G ratio of 2.14 and a beta of 0.88. The stock’s 50 day moving average price is $129.58 and its 200 day moving average price is $122.22. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.47.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.25 billion. As a group, research analysts predict that Canadian National Railway will post 5.93 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.71%.

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.