Bleakley Financial Group LLC Buys 1,054 Shares of Canadian National Railway (NYSE:CNI)

Bleakley Financial Group LLC grew its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 21.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,072 shares of the transportation company’s stock after buying an additional 1,054 shares during the period. Bleakley Financial Group LLC’s holdings in Canadian National Railway were worth $800,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Canadian National Railway during the fourth quarter valued at $769,556,000. Canoe Financial LP increased its position in shares of Canadian National Railway by 8,401.1% during the 4th quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock valued at $503,423,000 after purchasing an additional 3,960,049 shares during the last quarter. Capital International Investors lifted its position in Canadian National Railway by 63.2% in the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock worth $957,845,000 after buying an additional 2,951,506 shares during the last quarter. Wellington Management Group LLP lifted its position in Canadian National Railway by 9.6% in the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after buying an additional 1,907,938 shares during the last quarter. Finally, FIL Ltd boosted its stake in Canadian National Railway by 7.2% in the fourth quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock worth $2,412,032,000 after buying an additional 1,280,726 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on shares of Canadian National Railway in a report on Monday, April 8th. They issued a “hold” rating and a $130.00 price objective for the company. Stephens restated an “equal weight” rating and set a $140.00 price target on shares of Canadian National Railway in a research report on Wednesday, April 24th. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Stifel Nicolaus raised their price target on Canadian National Railway from $134.00 to $137.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Barclays lowered their price objective on Canadian National Railway from $130.00 to $128.00 and set an “equal weight” rating for the company in a research report on Tuesday. Eighteen analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway has an average rating of “Hold” and an average target price of $148.08.

Canadian National Railway Price Performance

CNI stock opened at $123.04 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The firm has a 50-day moving average of $122.45 and a 200 day moving average of $125.83. The company has a market cap of $77.81 billion, a P/E ratio of 19.62, a PEG ratio of 2.34 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.01. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.16 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. On average, sell-side analysts forecast that Canadian National Railway will post 5.85 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, June 7th. Canadian National Railway’s dividend payout ratio is presently 39.55%.

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.