Essex Savings Bank bought a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,298 shares of the transportation company’s stock, valued at approximately $96,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in CNI. Intercontinental Wealth Advisors LLC purchased a new stake in shares of Canadian National Railway during the fourth quarter valued at $30,000. Contravisory Investment Management Inc. purchased a new stake in Canadian National Railway in the 4th quarter worth about $45,000. Clean Yield Group purchased a new stake in Canadian National Railway in the 4th quarter worth about $46,000. Zions Bancorporation purchased a new stake in Canadian National Railway in the 3rd quarter worth about $102,000. Finally, Palo Capital Inc. purchased a new stake in Canadian National Railway in the 3rd quarter worth about $114,000. 54.21% of the stock is owned by institutional investors and hedge funds.
Shares of CNI stock opened at $83.68 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.62 and a debt-to-equity ratio of 0.65. Canadian National Railway has a fifty-two week low of $70.36 and a fifty-two week high of $91.90. The stock has a market capitalization of $60.31 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.67 and a beta of 1.08.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, January 29th. The transportation company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.38. Canadian National Railway had a return on equity of 23.28% and a net margin of 30.19%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same period in the prior year, the firm posted $1.20 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. Equities research analysts expect that Canadian National Railway will post 4.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be issued a dividend of $0.4026 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.92%. Canadian National Railway’s dividend payout ratio is currently 32.93%.
CNI has been the subject of several research analyst reports. Stephens raised Canadian National Railway from an “equal weight” rating to an “overweight” rating in a research note on Thursday, January 3rd. Cowen reissued an “outperform” rating and issued a $96.00 price objective (down from $98.00) on shares of Canadian National Railway in a research note on Wednesday, October 24th. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. Credit Suisse Group increased their price objective on Canadian National Railway from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 24th. Finally, Zacks Investment Research raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Wednesday, October 10th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Canadian National Railway currently has an average rating of “Hold” and a consensus target price of $92.16.
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Canadian National Railway Company Profile
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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