Northstar Asset Management Inc. Raises Stock Position in Canadian National Railway (NYSE:CNI)

Northstar Asset Management Inc. lifted its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,462 shares of the transportation company’s stock after acquiring an additional 1,164 shares during the quarter. Canadian National Railway accounts for about 2.8% of Northstar Asset Management Inc.’s holdings, making the stock its 14th biggest position. Northstar Asset Management Inc.’s holdings in Canadian National Railway were worth $11,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Manning & Napier Advisors LLC purchased a new position in shares of Canadian National Railway during the 2nd quarter worth approximately $134,096,000. Koshinski Asset Management Inc. acquired a new position in shares of Canadian National Railway in the first quarter worth $627,000. Sterling Investment Management LLC lifted its position in shares of Canadian National Railway by 17.2% in the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock valued at $4,250,000 after acquiring an additional 5,329 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Canadian National Railway during the first quarter valued at $4,451,000. Finally, Sumitomo Life Insurance Co. purchased a new stake in Canadian National Railway during the 2nd quarter worth about $1,321,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

CNI has been the topic of several analyst reports. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus raised their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and cut their price target for the company from $129.00 to $122.00 in a report on Friday, October 4th. Susquehanna decreased their price objective on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price for the company in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $125.18.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $109.07 on Wednesday. The firm has a market capitalization of $68.58 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 2.43 and a beta of 0.89. The stock’s 50 day moving average price is $115.02 and its 200 day moving average price is $118.44. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. Canadian National Railway has a one year low of $107.54 and a one year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts expect that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.26%.

About Canadian National Railway

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.