Morningstar Investment Management LLC Buys 8,576 Shares of Canadian National Railway Company $CNI

Morningstar Investment Management LLC grew its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 26.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 40,749 shares of the transportation company’s stock after purchasing an additional 8,576 shares during the period. Morningstar Investment Management LLC’s holdings in Canadian National Railway were worth $4,030,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Roberts Glore & Co. Inc. IL grew its holdings in shares of Canadian National Railway by 1.5% in the fourth quarter. Roberts Glore & Co. Inc. IL now owns 7,233 shares of the transportation company’s stock valued at $715,000 after acquiring an additional 110 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Canadian National Railway by 10.1% in the third quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 113 shares in the last quarter. Patten Group Inc. grew its holdings in shares of Canadian National Railway by 1.4% in the fourth quarter. Patten Group Inc. now owns 8,326 shares of the transportation company’s stock valued at $823,000 after acquiring an additional 114 shares in the last quarter. ICW Investment Advisors LLC grew its holdings in shares of Canadian National Railway by 0.7% in the third quarter. ICW Investment Advisors LLC now owns 16,525 shares of the transportation company’s stock valued at $1,558,000 after acquiring an additional 120 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of Canadian National Railway by 2.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,109 shares of the transportation company’s stock valued at $604,000 after acquiring an additional 123 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore reduced their target price on Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a report on Monday, February 2nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Canadian National Railway in a report on Monday, February 2nd. Barclays upped their target price on Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. UBS Group lowered Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Sanford C. Bernstein upped their target price on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a report on Tuesday, March 31st. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $122.04.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $114.24 on Monday. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $115.80. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. The business’s 50 day simple moving average is $108.20 and its 200 day simple moving average is $103.08. The company has a market cap of $69.43 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 2.19 and a beta of 0.95.

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

Canadian National Railway Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $0.915 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 3.2%. Canadian National Railway’s dividend payout ratio is presently 48.73%.

Canadian National Railway Company 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.