Lansforsakringar Fondforvaltning AB publ Raises Stake in Canadian National Railway Company $CNI

Lansforsakringar Fondforvaltning AB publ grew its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,862 shares of the transportation company’s stock after purchasing an additional 8,490 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Canadian National Railway were worth $11,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CNI. Addison Advisors LLC increased its stake in Canadian National Railway by 124.0% in the 2nd quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock worth $28,000 after buying an additional 150 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Canadian National Railway in the third quarter worth about $28,000. First Horizon Corp purchased a new stake in shares of Canadian National Railway during the third quarter worth about $30,000. Costello Asset Management INC raised its stake in Canadian National Railway by 83.3% during the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 150 shares during the period. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in Canadian National Railway in the 3rd quarter worth approximately $50,000. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CNI. UBS Group cut shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Evercore reduced their price target on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a report on Monday, February 2nd. Citigroup cut their price objective on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and boosted their target price for the stock from $146.00 to $151.00 in a research report on Friday, November 28th. Finally, Vertical Research raised Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Ten research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Canadian National Railway presently has an average rating of “Moderate Buy” and an average target price of $118.91.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $110.17 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $111.47. The company’s 50-day moving average price is $100.79 and its 200-day moving average price is $97.12. The company has a market cap of $67.55 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.82 earnings per share. On average, equities research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, March 10th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s payout ratio is currently 46.59%.

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.