Bristol Gate Capital Partners Inc. Grows Stock Position in Canadian National Railway (NYSE:CNI)

Bristol Gate Capital Partners Inc. boosted its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 32.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,828 shares of the transportation company’s stock after acquiring an additional 1,904 shares during the quarter. Canadian National Railway accounts for about 0.0% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 29th largest holding. Bristol Gate Capital Partners Inc.’s holdings in Canadian National Railway were worth $925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in shares of Canadian National Railway by 61.1% during the fourth quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock valued at $20,375,000 after purchasing an additional 61,498 shares during the period. Royal London Asset Management Ltd. grew its holdings in Canadian National Railway by 1.1% in the 4th quarter. Royal London Asset Management Ltd. now owns 1,602,728 shares of the transportation company’s stock worth $201,351,000 after acquiring an additional 17,083 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Canadian National Railway in the second quarter valued at about $134,096,000. Koshinski Asset Management Inc. bought a new position in shares of Canadian National Railway during the first quarter valued at about $627,000. Finally, Virtu Financial LLC purchased a new stake in shares of Canadian National Railway during the fourth quarter worth about $816,000. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Performance

Shares of CNI opened at $118.99 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The stock has a market cap of $74.93 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.56 and a beta of 0.88. The business’s 50 day moving average price is $116.30 and its 200-day moving average price is $122.29. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same period last year, the firm posted $1.31 earnings per share. The company’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that Canadian National Railway will post 5.58 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a dividend of $0.614 per share. This represents a $2.46 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is 39.08%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stifel Nicolaus lowered their price target on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Barclays reduced their price objective on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company reduced their price target on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Sixteen analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $137.35.

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.