Cypress Asset Management Inc. TX Takes $1.10 Million Position in Canadian National Railway (NYSE:CNI)

Cypress Asset Management Inc. TX acquired a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,713 shares of the transportation company’s stock, valued at approximately $1,095,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Canadian National Railway by 5.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after acquiring an additional 625,500 shares during the last quarter. National Bank of Canada FI lifted its holdings in Canadian National Railway by 5.1% in the fourth quarter. National Bank of Canada FI now owns 6,385,441 shares of the transportation company’s stock valued at $800,750,000 after acquiring an additional 311,961 shares during the last quarter. Norges Bank acquired a new position in Canadian National Railway in the fourth quarter valued at approximately $769,556,000. Deutsche Bank AG lifted its holdings in Canadian National Railway by 7.3% in the third quarter. Deutsche Bank AG now owns 5,575,661 shares of the transportation company’s stock valued at $604,011,000 after acquiring an additional 378,513 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Canadian National Railway by 2.2% in the third quarter. Legal & General Group Plc now owns 4,477,999 shares of the transportation company’s stock valued at $487,145,000 after acquiring an additional 97,818 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

Shares of CNI traded down $1.17 during mid-day trading on Thursday, reaching $126.35. 575,019 shares of the company’s stock were exchanged, compared to its average volume of 998,425. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. The company has a 50-day simple moving average of $127.95 and a two-hundred day simple moving average of $124.77. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a market cap of $80.44 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 2.22 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.27 by $0.01. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. On average, sell-side analysts predict that Canadian National Railway will post 5.9 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s dividend payout ratio is presently 39.71%.

Wall Street Analyst Weigh In

CNI has been the topic of a number of recent analyst reports. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price objective for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Wells Fargo & Company upped their price target on Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Jefferies Financial Group assumed coverage on Canadian National Railway in a research note on Monday, April 8th. They set a “hold” rating and a $130.00 price target on the stock. Barclays upped their price target on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Finally, Stephens restated an “equal weight” rating and set a $140.00 price target on shares of Canadian National Railway in a research note on Wednesday, April 24th. Eighteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $149.05.

Canadian National Railway Company 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.