Assetmark Inc. Boosts Stock Position in Canadian National Railway (NYSE:CNI)

Assetmark Inc. raised its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,980 shares of the transportation company’s stock after purchasing an additional 152 shares during the period. Assetmark Inc.’s holdings in Canadian National Railway were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new position in Canadian National Railway in the first quarter valued at approximately $4,579,000. Acadian Asset Management LLC grew its holdings in Canadian National Railway by 379.8% in the 1st quarter. Acadian Asset Management LLC now owns 146,164 shares of the transportation company’s stock valued at $19,260,000 after buying an additional 115,700 shares in the last quarter. Patten & Patten Inc. TN grew its holdings in Canadian National Railway by 0.3% in the 1st quarter. Patten & Patten Inc. TN now owns 86,938 shares of the transportation company’s stock valued at $11,451,000 after buying an additional 288 shares in the last quarter. Catalytic Wealth RIA LLC grew its holdings in shares of Canadian National Railway by 2.9% during the 1st quarter. Catalytic Wealth RIA LLC now owns 5,911 shares of the transportation company’s stock worth $779,000 after purchasing an additional 166 shares during the period. Finally, Hillsdale Investment Management Inc. grew its holdings in shares of Canadian National Railway by 58.6% during the 1st quarter. Hillsdale Investment Management Inc. now owns 50,430 shares of the transportation company’s stock worth $6,644,000 after purchasing an additional 18,625 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

CNI has been the topic of several research reports. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Stephens reissued an “equal weight” rating and set a $116.00 target price on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their target price for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Finally, Stifel Nicolaus upped their price objective on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $125.48.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $108.89 on Friday. Canadian National Railway has a twelve month low of $107.54 and a twelve month high of $134.02. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $68.47 billion, a PE ratio of 17.49, a P/E/G ratio of 2.52 and a beta of 0.89. The firm has a fifty day simple moving average of $114.17 and a 200 day simple moving average of $117.83.

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

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.90%.

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.