Ridgewood Investments LLC Has $195,000 Position in Canadian National Railway (NYSE:CNI)

Ridgewood Investments LLC grew its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 92.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,923 shares of the transportation company’s stock after buying an additional 924 shares during the period. Ridgewood Investments LLC’s holdings in Canadian National Railway were worth $195,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. XTX Topco Ltd increased its stake in Canadian National Railway by 43.3% in the third quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock valued at $1,822,000 after acquiring an additional 4,698 shares during the period. Unigestion Holding SA increased its stake in Canadian National Railway by 363.6% in the third quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock valued at $18,012,000 after acquiring an additional 120,687 shares during the period. Principal Financial Group Inc. grew its stake in Canadian National Railway by 29.6% during the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock worth $10,820,000 after buying an additional 21,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Canadian National Railway by 5.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock worth $464,002,000 after buying an additional 202,303 shares during the last quarter. Finally, Partners Group Holding AG grew its stake in Canadian National Railway by 16.3% during the third quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock worth $47,571,000 after buying an additional 56,849 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CNI. Susquehanna decreased their price objective on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Wednesday. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Jefferies Financial Group upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Friday. Finally, Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $121.57.

Canadian National Railway Trading Down 1.7 %

CNI traded down $1.71 during mid-day trading on Friday, hitting $100.69. The stock had a trading volume of 490,183 shares, compared to its average volume of 1,016,138. The stock’s fifty day simple moving average is $106.58 and its 200-day simple moving average is $112.63. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The firm has a market capitalization of $63.35 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. Canadian National Railway has a 1-year low of $98.96 and a 1-year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the business posted $1.26 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, research analysts forecast that Canadian National Railway will post 5.31 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Monday, December 9th. Canadian National Railway’s dividend payout ratio is 38.14%.

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.