Canadian National Railway Company $CNI Stock Acquired by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management increased its Canadian National Railway stake by 35.6% in the third quarter, acquiring 38,233 additional shares. Its 145,653-share position was valued at approximately $17.4 million and represented 2.2% of its portfolio.
• Institutional investors own 80.74% of CNI’s outstanding shares, with several funds initiating or expanding positions during the second quarter.
• Analysts maintain a “Moderate Buy” consensus, with nine Buy and nine Hold ratings and an average price target of $137.49. CNI recently traded at $120.90 and reported quarterly EPS and revenue above analyst expectations.

Triasima Portfolio Management inc. increased its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 35.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,653 shares of the transportation company's stock after purchasing an additional 38,233 shares during the period. Canadian National Railway makes up about 2.2% of Triasima Portfolio Management inc.'s portfolio, making the stock its 7th biggest holding. Triasima Portfolio Management inc.'s holdings in Canadian National Railway were worth $17,379,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CNI. Two Sigma Securities LLC raised its position in shares of Canadian National Railway by 179.9% in the second quarter. Two Sigma Securities LLC now owns 14,684 shares of the transportation company's stock valued at $1,751,000 after buying an additional 9,438 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Canadian National Railway in the second quarter valued at approximately $9,308,000. Puzo Michael J bought a new stake in shares of Canadian National Railway in the second quarter valued at approximately $5,915,000. Canandaigua National Bank & Trust Co. bought a new stake in shares of Canadian National Railway in the second quarter valued at approximately $1,948,000. Finally, Cardinal Capital Management Inc. grew its position in Canadian National Railway by 5.8% during the second quarter. Cardinal Capital Management Inc. now owns 1,254,252 shares of the transportation company's stock worth $149,384,000 after buying an additional 68,791 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CNI has been the topic of a number of recent research reports. Citigroup lowered their price objective on Canadian National Railway from $151.00 to $143.00 and set a "buy" rating on the stock in a research note on Wednesday, October 7th. National Bank Financial set a $124.00 price objective on Canadian National Railway in a report on Thursday, June 25th. Citizens Jmp assumed coverage on Canadian National Railway in a research report on Wednesday, July 15th. They set a "market perform" rating for the company. Canadian Imperial Bank of Commerce upped their target price on Canadian National Railway from C$182.00 to C$185.00 and gave the company an "outperformer" rating in a research report on Thursday, June 25th. Finally, Barclays increased their target price on Canadian National Railway from $109.00 to $130.00 and gave the stock an "equal weight" rating in a report on Monday, July 27th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $137.49.

Canadian National Railway Price Performance

CNI stock opened at $120.90 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $131.55. The firm has a market cap of $72.84 billion, a P/E ratio of 21.29, a P/E/G ratio of 2.15 and a beta of 0.96. The company's 50-day moving average price is $122.42 and its two-hundred day moving average price is $119.00.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm posted $1.87 EPS. The firm's quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts anticipate that Canadian National Railway Company will post 5.80 earnings per share for the current fiscal year.

Canadian National Railway Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th were paid a C$0.92 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is 46.10%.

Canadian National Railway Company Profile

Canadian National Railway Company NYSE: CNI is a transportation and logistics company that operates a major freight rail network in Canada and the United States. Its network connects the Atlantic, Pacific and Gulf coasts, serving ports, industrial centers, agricultural regions and major population markets.

CN transports a broad range of commodities and manufactured goods, including forest products, grain and fertilizers, coal, metals and minerals, petroleum and chemicals, automotive products, and consumer goods.

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