Hillsdale Investment Management Inc. Raises Stock Position in Canadian National Railway (NYSE:CNI)

Hillsdale Investment Management Inc. increased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 219.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,717 shares of the transportation company’s stock after purchasing an additional 39,627 shares during the period. Hillsdale Investment Management Inc.’s holdings in Canadian National Railway were worth $5,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of Canadian National Railway by 4.4% during the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after purchasing an additional 790,420 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of 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 worth $789,030,000 after purchasing an additional 2,137,948 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of Canadian National Railway by 2.6% during the fourth quarter. Fiera Capital Corp now owns 5,624,594 shares of the transportation company’s stock worth $570,550,000 after purchasing an additional 142,070 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Canadian National Railway by 12.6% during the fourth quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company’s stock worth $519,843,000 after purchasing an additional 571,967 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Canadian National Railway by 6.6% during the third quarter. Geode Capital Management LLC now owns 2,562,480 shares of the transportation company’s stock valued at $302,895,000 after buying an additional 158,757 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CNI shares. Wells Fargo & Company dropped their price target on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. Loop Capital lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. Jefferies Financial Group upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway has a consensus rating of “Moderate Buy” and an average price target of $124.19.

Canadian National Railway Stock Down 1.1 %

Shares of NYSE CNI opened at $96.71 on Friday. The firm has a market cap of $60.77 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. Canadian National Railway has a 52-week low of $93.64 and a 52-week high of $133.11. The company’s 50-day simple moving average is $101.27 and its 200-day simple moving average is $107.28. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share 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%. Equities analysts predict that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.6159 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 2.55%. Canadian National Railway’s payout ratio is presently 47.66%.

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.