Canadian National Railway (NYSE:CNI) Shares Acquired by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. boosted its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 44.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 192,500 shares of the transportation company’s stock after purchasing an additional 59,300 shares during the quarter. Canadian National Railway comprises about 2.1% of Nicola Wealth Management LTD.’s holdings, making the stock its 13th largest position. Nicola Wealth Management LTD.’s holdings in Canadian National Railway were worth $22,551,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNI. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Canadian National Railway in the second quarter valued at $26,000. Addison Advisors LLC grew its holdings in Canadian National Railway by 159.1% in the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 229 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Canadian National Railway during the 2nd quarter valued at $34,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Canadian National Railway in the 3rd quarter worth $41,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Stephens reiterated an “equal weight” rating and set a $116.00 target price on shares of Canadian National Railway in a report on Wednesday, October 23rd. Barclays lifted their price target on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company upgraded shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price on the stock in a report on Monday, October 7th. The Goldman Sachs Group decreased their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Finally, Evercore ISI cut their price objective on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $125.48.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock traded down $0.66 on Thursday, hitting $110.73. The stock had a trading volume of 108,437 shares, compared to its average volume of 1,111,337. The stock has a market cap of $69.63 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. The business’s 50 day moving average is $114.31 and its two-hundred day moving average is $117.89. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. Canadian National Railway has a twelve month low of $107.54 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 EPS. Analysts forecast that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.21%. Canadian National Railway’s payout ratio is 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.