Cidel Asset Management Inc. Has $52.87 Million Stock Position in Canadian National Railway Company $CNI

Cidel Asset Management Inc. raised its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 92.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 515,357 shares of the transportation company’s stock after buying an additional 247,450 shares during the period. Canadian National Railway makes up about 2.9% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 6th biggest position. Cidel Asset Management Inc.’s holdings in Canadian National Railway were worth $52,874,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. High Point Wealth Management LLC purchased a new position in shares of Canadian National Railway during the fourth quarter worth approximately $27,000. Curio Wealth LLC purchased a new stake in shares of Canadian National Railway in the fourth quarter valued at approximately $31,000. MidFirst Bank bought a new position in Canadian National Railway in the fourth quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd grew its stake in Canadian National Railway by 378.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after purchasing an additional 280 shares in the last quarter. Finally, Leonteq Securities AG purchased a new position in Canadian National Railway during the 4th quarter worth $39,000. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $114.75 on Wednesday. The company has a market capitalization of $69.62 billion, a PE ratio of 20.86, a P/E/G ratio of 2.19 and a beta of 0.96. The company has a 50-day simple moving average of $114.47 and a two-hundred day simple moving average of $106.61. Canadian National Railway Company has a one year low of $90.74 and a one year high of $122.48. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.31. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the business earned $1.85 EPS. The company’s revenue was down .5% compared to the same quarter last year. Research analysts expect that Canadian National Railway Company will post 5.76 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, June 9th. Canadian National Railway’s dividend payout ratio (DPR) is 48.55%.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of research analyst reports. Weiss Ratings lowered Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Royal Bank Of Canada increased their price target on Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Canadian Imperial Bank of Commerce increased their price target on Canadian National Railway from C$164.00 to C$182.00 and gave the stock an “outperformer” rating in a research report on Tuesday, June 9th. Barclays raised their price target on Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Finally, Citigroup lifted their price objective on Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $123.24.

About Canadian National Railway

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.