Lorne Steinberg Wealth Management Inc. Increases Stock Position in Canadian National Railway (NYSE:CNI)

Lorne Steinberg Wealth Management Inc. grew its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 47,820 shares of the transportation company’s stock after buying an additional 1,271 shares during the period. Canadian National Railway accounts for approximately 2.0% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 20th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Canadian National Railway were worth $6,012,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Artisan Partners Limited Partnership acquired a new position in shares of Canadian National Railway during the third quarter worth about $273,243,000. Morgan Stanley raised its stake in shares of Canadian National Railway by 53.2% during the 3rd quarter. Morgan Stanley now owns 2,879,091 shares of the transportation company’s stock worth $311,892,000 after buying an additional 1,000,244 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Canadian National Railway by 5.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after buying an additional 625,500 shares during the period. Quadrature Capital Ltd boosted its stake in shares of Canadian National Railway by 98.9% in the third quarter. Quadrature Capital Ltd now owns 1,229,900 shares of the transportation company’s stock valued at $134,136,000 after buying an additional 611,400 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Canadian National Railway by 7.3% during the third quarter. Deutsche Bank AG now owns 5,575,661 shares of the transportation company’s stock worth $604,011,000 after buying an additional 378,513 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CNI. 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. Jefferies Financial Group started coverage on shares of Canadian National Railway in a report on Monday, April 8th. They set a “hold” rating and a $130.00 price target for the company. Susquehanna Bancshares raised their price target on Canadian National Railway from $115.00 to $143.00 and gave the stock a “neutral” rating in a research note on Monday, January 8th. Stephens reaffirmed an “equal weight” rating and set a $140.00 price objective on shares of Canadian National Railway in a research note on Wednesday. Finally, Susquehanna boosted their price objective on shares of Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday. Eighteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Canadian National Railway has an average rating of “Hold” and an average target price of $147.86.

Canadian National Railway Stock Down 5.4 %

CNI stock traded down $6.95 during midday trading on Wednesday, hitting $122.45. 1,156,761 shares of the company’s stock were exchanged, compared to its average volume of 1,002,703. The firm has a 50 day moving average price of $129.80 and a 200-day moving average price of $122.20. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The stock has a market capitalization of $78.21 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 2.25 and a beta of 0.88. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a net margin of 33.38% and a return on equity of 23.56%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.25 billion. On average, analysts anticipate that Canadian National Railway will post 5.94 EPS for the current year.

Canadian National Railway 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.