Lorne Steinberg Wealth Management Inc. Has $6.01 Million Stock Holdings in Canadian National Railway (NYSE:CNI)

Lorne Steinberg Wealth Management Inc. raised its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.7% in the 4th quarter, Holdings Channel reports. The firm owned 47,820 shares of the transportation company’s stock after acquiring an additional 1,271 shares during the period. Canadian National Railway accounts for approximately 2.0% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 20th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Canadian National Railway were worth $6,012,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Artisan Partners Limited Partnership acquired a new stake in Canadian National Railway in the third quarter valued at about $273,243,000. Morgan Stanley lifted its holdings in shares of Canadian National Railway by 53.2% in the third quarter. Morgan Stanley now owns 2,879,091 shares of the transportation company’s stock worth $311,892,000 after acquiring an additional 1,000,244 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Canadian National Railway by 5.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after purchasing an additional 625,500 shares in the last quarter. Quadrature Capital Ltd grew its holdings in shares of Canadian National Railway by 98.9% during the 3rd quarter. Quadrature Capital Ltd now owns 1,229,900 shares of the transportation company’s stock valued at $134,136,000 after purchasing an additional 611,400 shares during the last quarter. Finally, Deutsche Bank AG increased its position in Canadian National Railway by 7.3% during the 3rd quarter. Deutsche Bank AG now owns 5,575,661 shares of the transportation company’s stock worth $604,011,000 after purchasing an additional 378,513 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. TD Securities cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Jefferies Financial Group assumed coverage on Canadian National Railway in a report on Monday, April 8th. They issued a “hold” rating and a $130.00 target price for the company. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price target for the company from $140.00 to $145.00 in a research note on Wednesday, April 10th. Barclays upped their price objective on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Finally, Citigroup boosted their target price on shares of Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Eighteen research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $147.86.

Canadian National Railway Stock Down 5.4 %

CNI stock traded down $6.95 during trading on Wednesday, hitting $122.45. 1,156,761 shares of the company’s stock traded hands, compared to its average volume of 1,002,703. The business has a fifty day simple moving average of $129.80 and a two-hundred day simple moving average of $122.20. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $78.21 billion, a P/E ratio of 19.34, a PEG ratio of 2.25 and a beta of 0.88. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.25 billion. Canadian National Railway had a return on equity of 23.56% and a net margin of 33.38%. Sell-side analysts anticipate that Canadian National Railway will post 5.94 EPS for the current year.

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.