Lincluden Management Ltd. Purchases 17,257 Shares of Canadian National Railway Company $CNI

Lincluden Management Ltd. raised its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 434,344 shares of the transportation company’s stock after buying an additional 17,257 shares during the period. Canadian National Railway makes up about 4.6% of Lincluden Management Ltd.’s holdings, making the stock its 6th biggest holding. Lincluden Management Ltd.’s holdings in Canadian National Railway were worth $40,717,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hollencrest Capital Management acquired a new position in shares of Canadian National Railway in the third quarter worth about $28,000. First Horizon Corp acquired a new stake in Canadian National Railway during the 3rd quarter valued at approximately $30,000. Costello Asset Management INC increased its holdings 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 worth $31,000 after purchasing an additional 150 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in Canadian National Railway during the 3rd quarter worth approximately $50,000. Finally, Private Trust Co. NA raised its position in shares of Canadian National Railway by 30.8% in the 3rd quarter. Private Trust Co. NA now owns 603 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 142 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $106.31 on Tuesday. The company has a market cap of $64.98 billion, a PE ratio of 19.58, a P/E/G ratio of 2.18 and a beta of 0.90. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $113.08. The firm has a 50-day simple moving average of $103.78 and a 200 day simple moving average of $98.62. 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 (NYSE:CNI) (TSE:CNR) last issued its earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. Canadian National Railway’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.82 earnings per share. On average, sell-side analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders 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 dividend yield of 3.4%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, March 10th. Canadian National Railway’s dividend payout ratio is presently 49.36%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CNI. Citigroup reduced their target price on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Canadian Imperial Bank of Commerce upgraded shares of Canadian National Railway from a “hold” rating to an “outperformer” rating and lifted their price target for the stock from $146.00 to $151.00 in a research note on Friday, November 28th. UBS Group downgraded shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Barclays decreased their price objective on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, February 2nd. Finally, Zacks Research raised shares of Canadian National Railway from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $118.91.

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.