Canadian National Railway (NYSE:CNI) Shares Bought by JCIC Asset Management Inc.

JCIC Asset Management Inc. boosted its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 72.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 684 shares of the transportation company’s stock after purchasing an additional 287 shares during the period. JCIC Asset Management Inc.’s holdings in Canadian National Railway were worth $69,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CNI. Fortitude Family Office LLC grew its position in shares of Canadian National Railway by 738.7% in the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 229 shares during the last quarter. Coastline Trust Co purchased a new position in Canadian National Railway during the third quarter worth $34,000. Reston Wealth Management LLC purchased a new position in Canadian National Railway during the third quarter worth $41,000. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Canadian National Railway in the third quarter worth $56,000. Finally, Grove Bank & Trust lifted its position in shares of Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 97 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Stock Up 0.4 %

Shares of NYSE CNI traded up $0.37 during trading on Monday, reaching $100.32. 785,930 shares of the stock were exchanged, compared to its average volume of 1,133,002. The business’s 50-day moving average price is $106.41 and its 200 day moving average price is $112.42. The company has a market capitalization of $63.11 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. Canadian National Railway has a twelve month low of $98.96 and a twelve month high of $134.02. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the company posted $1.26 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities analysts forecast that Canadian National Railway will post 5.31 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a dividend of $0.6108 per share. The ex-dividend date was Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.44%. Canadian National Railway’s dividend payout ratio is presently 38.14%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CNI shares. JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Barclays raised their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Stephens reiterated an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a report on Wednesday, October 23rd. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $126.00 to $130.00 in a report on Tuesday, November 12th. Finally, Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and three 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 target price of $125.77.

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.