Midwest Professional Planners LTD. Acquires New Shares in Canadian National Railway Company $CNI

Midwest Professional Planners LTD. bought a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,096 shares of the transportation company’s stock, valued at approximately $322,000.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Canadian National Railway by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 23,165,939 shares of the transportation company’s stock worth $2,254,370,000 after purchasing an additional 179,261 shares in the last quarter. TD Asset Management Inc increased its position in shares of Canadian National Railway by 2.3% during the second quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock valued at $1,255,385,000 after buying an additional 273,974 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Canadian National Railway by 6.0% in the first quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company’s stock worth $1,095,793,000 after buying an additional 636,147 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Canadian National Railway by 6.3% in the first quarter. Mackenzie Financial Corp now owns 8,571,806 shares of the transportation company’s stock worth $834,129,000 after buying an additional 505,588 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Canadian National Railway by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock valued at $646,983,000 after acquiring an additional 1,148,569 shares during the period. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CNI. Citigroup raised their price target on shares of Canadian National Railway from $119.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Royal Bank Of Canada boosted their target price on Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Bank of America decreased their target price on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Wall Street Zen upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Evercore ISI upped their price objective on shares of Canadian National Railway from $98.00 to $103.00 and gave the stock an “in-line” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Canadian National Railway currently has an average rating of “Hold” and an average price target of $114.00.

Canadian National Railway Trading Down 0.5%

Shares of CNI stock opened at $96.13 on Monday. The business has a 50-day moving average price of $94.87 and a two-hundred day moving average price of $98.59. Canadian National Railway Company has a 12-month low of $91.07 and a 12-month high of $112.97. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The firm has a market cap of $59.26 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 2.13 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.Canadian National Railway’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $1.72 EPS. Equities analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be paid a $0.8875 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.7%. Canadian National Railway’s dividend payout ratio is currently 48.01%.

Canadian National Railway 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.