Bowen Hanes & Co. Inc. Decreases Stock Position in Canadian National Railway Company $CNI

Bowen Hanes & Co. Inc. trimmed its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 9.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,996 shares of the transportation company’s stock after selling 3,906 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Canadian National Railway were worth $3,745,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Canadian National Railway by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,927,393 shares of the transportation company’s stock valued at $2,493,163,000 after purchasing an additional 761,454 shares in the last quarter. TD Asset Management Inc raised its position in shares of Canadian National Railway by 2.3% in the second quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock valued at $1,255,385,000 after buying an additional 273,974 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Canadian National Railway by 6.0% in the first quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company’s stock worth $1,095,793,000 after buying an additional 636,147 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Canadian National Railway by 6.3% in the first quarter. Mackenzie Financial Corp now owns 8,571,806 shares of the transportation company’s stock worth $834,129,000 after buying an additional 505,588 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Canadian National Railway by 20.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock worth $646,983,000 after acquiring an additional 1,148,569 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Susquehanna increased their price objective on shares of Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Wells Fargo & Company cut their price target on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, October 6th. Royal Bank Of Canada lifted their price objective on Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Wall Street Zen upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Barclays cut their target price on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $114.00.

Canadian National Railway Trading Up 1.0%

CNI opened at $92.94 on Friday. The stock has a market capitalization of $57.30 billion, a PE ratio of 17.87, a P/E/G ratio of 2.13 and a beta of 0.95. Canadian National Railway Company has a one year low of $91.07 and a one year high of $112.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. The business’s 50 day moving average price is $94.86 and its 200 day moving average price is $98.42.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Friday, October 31st. The transportation company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the previous year, the business earned $1.72 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.8%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, December 9th. Canadian National Railway’s payout ratio is 48.01%.

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.