33,140 Shares in Canadian National Railway Company $CNI Purchased by Westerkirk Capital Inc.

Westerkirk Capital Inc. acquired a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 33,140 shares of the transportation company’s stock, valued at approximately $3,448,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CNI. Norges Bank purchased a new position in shares of Canadian National Railway in the 2nd quarter valued at approximately $591,904,000. Kingstone Capital Partners Texas LLC bought a new position in Canadian National Railway in the second quarter worth $310,489,000. Fisher Asset Management LLC purchased a new position in Canadian National Railway during the second quarter valued at $189,748,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Canadian National Railway by 37.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company’s stock valued at $518,260,000 after buying an additional 1,439,617 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Canadian National Railway in the 1st quarter worth about $112,216,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

CNI stock opened at $95.58 on Tuesday. The stock’s 50 day simple moving average is $94.83 and its 200 day simple moving average is $97.96. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $111.67. The stock has a market capitalization of $58.93 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.13 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.05. The firm had revenue of $2.99 billion during 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%.The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.72 earnings per share. As a group, research analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be given 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 yield of 3.7%. Canadian National Railway’s payout ratio is presently 48.01%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CNI shares. Susquehanna increased their price target on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. 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 report on Monday, November 3rd. Royal Bank Of Canada lifted their target price on shares of Canadian National Railway from $148.00 to $158.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Bank of America dropped their price target on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. Finally, Barclays reduced their price objective on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a research report on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.36.

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.