Eaton Vance Management Grows Stake in Canadian National Railway (CNI)

Eaton Vance Management grew its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.4% during the 4th quarter, Holdings Channel reports. The firm owned 408,384 shares of the transportation company’s stock after buying an additional 1,477 shares during the period. Eaton Vance Management’s holdings in Canadian National Railway were worth $30,265,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its position in shares of Canadian National Railway by 149.2% in the fourth quarter. Quadrant Capital Group LLC now owns 7,749 shares of the transportation company’s stock valued at $559,000 after purchasing an additional 4,640 shares during the last quarter. Congress Asset Management Co. MA grew its position in shares of Canadian National Railway by 0.3% in the fourth quarter. Congress Asset Management Co. MA now owns 672,965 shares of the transportation company’s stock valued at $49,873,000 after purchasing an additional 2,216 shares during the last quarter. Willingdon Wealth Management grew its position in shares of Canadian National Railway by 8.6% in the third quarter. Willingdon Wealth Management now owns 41,570 shares of the transportation company’s stock valued at $3,733,000 after purchasing an additional 3,302 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Canadian National Railway by 30.2% in the third quarter. Bank of New York Mellon Corp now owns 904,922 shares of the transportation company’s stock valued at $81,261,000 after purchasing an additional 210,097 shares during the last quarter. Finally, Windward Capital Management Co. CA grew its position in shares of Canadian National Railway by 0.5% in the fourth quarter. Windward Capital Management Co. CA now owns 235,177 shares of the transportation company’s stock valued at $17,429,000 after purchasing an additional 1,266 shares during the last quarter. Institutional investors and hedge funds own 54.66% of the company’s stock.

Shares of NYSE CNI opened at $86.02 on Friday. Canadian National Railway has a 1 year low of $70.36 and a 1 year high of $91.90. The company has a market cap of $62.44 billion, a P/E ratio of 20.28, a PEG ratio of 1.73 and a beta of 1.08. The company has a current ratio of 0.78, a quick ratio of 0.62 and a debt-to-equity ratio of 0.65.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, January 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.38. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.80 billion. Canadian National Railway had a net margin of 30.19% and a return on equity of 23.28%. Canadian National Railway’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. Sell-side analysts anticipate that Canadian National Railway will post 4.74 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be paid a dividend of $0.4026 per share. The ex-dividend date is Thursday, March 7th. This represents a $1.61 dividend on an annualized basis and a yield of 1.87%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.35. Canadian National Railway’s dividend payout ratio (DPR) is currently 32.93%.

Several analysts have recently commented on the stock. Deutsche Bank increased their price target on shares of Canadian National Railway from $96.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 3rd. Zacks Investment Research lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. Macquarie lowered shares of Canadian National Railway from an “outperform” rating to a “neutral” rating in a research report on Wednesday, January 30th. Barclays restated a “hold” rating and set a $86.00 target price on shares of Canadian National Railway in a research report on Thursday, January 17th. Finally, Credit Suisse Group upgraded shares of Canadian National Railway from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $90.00 to $95.00 in a research report on Tuesday, January 15th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Canadian National Railway presently has a consensus rating of “Hold” and an average target price of $92.16.

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About Canadian National Railway

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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