Claret Asset Management Corp Boosts Position in Canadian National Railway Company $CNI

Claret Asset Management Corp grew its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 54.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,355 shares of the transportation company’s stock after purchasing an additional 42,445 shares during the quarter. Canadian National Railway makes up about 1.4% of Claret Asset Management Corp’s portfolio, making the stock its 20th biggest holding. Claret Asset Management Corp’s holdings in Canadian National Railway were worth $11,904,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CNI. Cardinal Point Capital Management ULC grew its stake in Canadian National Railway by 28.8% in the 3rd quarter. Cardinal Point Capital Management ULC now owns 124,426 shares of the transportation company’s stock valued at $11,730,000 after acquiring an additional 27,857 shares during the period. Lincluden Management Ltd. grew its stake in Canadian National Railway by 4.1% in the 3rd quarter. Lincluden Management Ltd. now owns 434,344 shares of the transportation company’s stock valued at $40,717,000 after acquiring an additional 17,257 shares during the period. Kensington Investment Counsel LLC acquired a new stake in Canadian National Railway in the 3rd quarter valued at $3,079,000. Scharf Investments LLC acquired a new stake in Canadian National Railway in the 4th quarter valued at $8,283,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in Canadian National Railway in the 3rd quarter valued at $32,174,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Up 0.4%

Shares of CNI opened at $120.92 on Tuesday. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $122.48. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average is $111.96 and its two-hundred day moving average is $104.89. The stock has a market cap of $73.49 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.31. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the company posted $1.85 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Research analysts forecast that Canadian National Railway Company will post 5.76 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 9th. Canadian National Railway’s payout ratio is 48.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CNI shares. Weiss Ratings cut shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Barclays lifted their price target on shares of Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Sanford C. Bernstein lifted their price target on shares of Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research note on Tuesday, March 31st. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price target for the company from $117.00 to $122.00 in a research note on Thursday, April 9th. Finally, Royal Bank Of Canada lifted their price target on shares of Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $122.04.

Canadian National Railway Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.