Cullen Investment Group LTD. Buys New Position in Canadian National Railway (NYSE:CNI)

Cullen Investment Group LTD. bought a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,370 shares of the transportation company’s stock, valued at approximately $298,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ascent Group LLC boosted its position in shares of Canadian National Railway by 2.2% during the 3rd quarter. Ascent Group LLC now owns 4,005 shares of the transportation company’s stock valued at $474,000 after purchasing an additional 87 shares in the last quarter. Baird Financial Group Inc. raised its stake in Canadian National Railway by 0.3% during the 3rd quarter. Baird Financial Group Inc. now owns 28,401 shares of the transportation company’s stock worth $3,067,000 after buying an additional 88 shares during the period. SRS Capital Advisors Inc. raised its stake in Canadian National Railway by 2.9% during the 2nd quarter. SRS Capital Advisors Inc. now owns 3,123 shares of the transportation company’s stock worth $378,000 after buying an additional 89 shares during the period. State of Wyoming raised its stake in Canadian National Railway by 11.7% during the 4th quarter. State of Wyoming now owns 867 shares of the transportation company’s stock worth $103,000 after buying an additional 91 shares during the period. Finally, Tacita Capital Inc raised its stake in Canadian National Railway by 0.4% during the 3rd quarter. Tacita Capital Inc now owns 27,356 shares of the transportation company’s stock worth $2,972,000 after buying an additional 97 shares during the period. Institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. 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. Susquehanna Bancshares upped their price target on Canadian National Railway from $115.00 to $143.00 and gave the stock a “neutral” rating in a research note on Monday, January 8th. Stephens upped their price target on Canadian National Railway from $122.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 4th. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $145.00 in a research note on Wednesday, April 10th. Finally, Stifel Nicolaus increased their price objective on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday. Eighteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $147.52.

Canadian National Railway Stock Performance

Shares of CNI opened at $128.79 on Tuesday. The stock has a 50 day moving average of $129.81 and a 200 day moving average of $121.30. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The company has a market capitalization of $82.47 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.23 and a beta of 0.88. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.56% and a net margin of 33.38%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.25 billion. As a group, sell-side analysts forecast that Canadian National Railway will post 5.96 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th were issued a dividend of $0.638 per share. This represents a $2.55 annualized dividend and a yield of 1.98%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, March 6th. Canadian National Railway’s dividend payout ratio is 39.59%.

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.