Canadian National Railway (NYSE:CNI) Shares Bought by Farrow Financial Inc.

Farrow Financial Inc. grew its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,980 shares of the transportation company’s stock after acquiring an additional 540 shares during the period. Farrow Financial Inc.’s holdings in Canadian National Railway were worth $1,913,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. PCJ Investment Counsel Ltd. acquired a new position in Canadian National Railway in the fourth quarter worth about $3,203,000. Scheer Rowlett & Associates Investment Management Ltd. grew its stake in Canadian National Railway by 43.7% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 710,796 shares of the transportation company’s stock worth $72,087,000 after purchasing an additional 216,285 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Canadian National Railway in the fourth quarter worth about $1,247,000. West Family Investments Inc. acquired a new position in Canadian National Railway in the fourth quarter worth about $210,000. Finally, Callan Family Office LLC acquired a new position in Canadian National Railway in the fourth quarter worth about $232,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CNI shares. Barclays decreased their price target on Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their target price for the company from $126.00 to $130.00 in a research note on Tuesday, November 12th. Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Susquehanna decreased their target price on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada decreased their target price on Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.19.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $101.12 on Friday. Canadian National Railway has a 12 month low of $96.28 and a 12 month high of $134.02. The stock has a market cap of $63.53 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.95 and a beta of 0.91. The stock’s 50 day moving average price is $102.26 and its 200 day moving average price is $108.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48.

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 the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. Equities research analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued 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 2.44%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio is currently 47.66%.

Canadian National Railway Company 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.