Cumberland Partners Ltd Grows Stock Position in Canadian National Railway (NYSE:CNI)

Cumberland Partners Ltd increased its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 279,115 shares of the transportation company’s stock after buying an additional 702 shares during the quarter. Canadian National Railway accounts for about 2.0% of Cumberland Partners Ltd’s investment portfolio, making the stock its 18th largest position. Cumberland Partners Ltd’s holdings in Canadian National Railway were worth $28,279,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CNI. National Bank of Canada FI lifted its position in Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after purchasing an additional 2,137,948 shares in the last quarter. Canoe Financial LP bought a new position in shares of Canadian National Railway in the fourth quarter worth about $216,943,000. Point72 Asset Management L.P. purchased a new position in shares of Canadian National Railway during the 3rd quarter valued at about $159,907,000. Wellington Management Group LLP grew its stake in shares of Canadian National Railway by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock valued at $2,175,935,000 after acquiring an additional 790,420 shares during the period. Finally, Toronto Dominion Bank increased its holdings in Canadian National Railway by 64.5% in the 3rd quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock worth $174,813,000 after acquiring an additional 584,832 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Trading Down 0.4 %

CNI opened at $102.42 on Thursday. The stock has a 50-day moving average of $102.66 and a 200 day moving average of $109.51. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. Canadian National Railway has a 12 month low of $98.69 and a 12 month high of $134.02. The firm has a market cap of $64.35 billion, a P/E ratio of 20.00, a P/E/G ratio of 1.93 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. As a group, research analysts forecast that Canadian National Railway will post 5.5 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.6159 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.46 annualized dividend and a dividend yield of 2.41%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio is currently 46.68%.

Wall Street Analysts Forecast Growth

CNI has been the topic of several analyst reports. Evercore ISI raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. Stifel Nicolaus lifted their target price on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Stephens reissued an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a report on Wednesday, October 23rd. Susquehanna lowered their price objective on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, TD Securities upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $124.19.

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.