Cidel Asset Management Inc. Has $41.52 Million Stake in Canadian National Railway Company $CNI

Key Points

• Cidel Asset Management Inc. has increased its stake in Canadian National Railway Company by 2.0%, now holding approximately $41.52 million worth of shares.
• Canadian National Railway's recent quarterly earnings missed analyst expectations, reporting a $1.35 EPS compared to the consensus estimate of $1.37.
• The company has recently boosted its quarterly dividend to $0.6507 per share, reflecting an annualized rate of $2.60 and a dividend yield of 2.7%.

Cidel Asset Management Inc. increased its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 399,269 shares of the transportation company's stock after acquiring an additional 7,936 shares during the period. Canadian National Railway comprises about 2.5% of Cidel Asset Management Inc.'s portfolio, making the stock its 11th largest position. Cidel Asset Management Inc. owned about 0.06% of Canadian National Railway worth $41,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dagco Inc. acquired a new stake in shares of Canadian National Railway during the first quarter worth $32,000. Brooklyn Investment Group raised its holdings in shares of Canadian National Railway by 354.3% during the first quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock worth $42,000 after acquiring an additional 333 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Canadian National Railway by 42.7% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company's stock worth $58,000 after acquiring an additional 167 shares during the period. GAMMA Investing LLC raised its holdings in shares of Canadian National Railway by 31.3% during the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after acquiring an additional 171 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Canadian National Railway during the first quarter worth $74,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. restated a "neutral" rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. Evercore ISI downgraded shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 target price for the company. in a research report on Wednesday, July 23rd. Raymond James Financial raised shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 17th. Citigroup decreased their target price on shares of Canadian National Railway from $121.00 to $119.00 and set a "buy" rating for the company in a research report on Monday, October 13th. Finally, Royal Bank Of Canada decreased their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $113.90.

Canadian National Railway Stock Performance

Shares of CNI opened at $95.69 on Friday. The firm has a 50-day moving average of $94.79 and a 200-day moving average of $98.84. Canadian National Railway Company has a one year low of $91.07 and a one year high of $114.99. The company has a market cap of $59.21 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the business earned $1.84 EPS. The business's revenue was down 1.3% on a year-over-year basis. As a group, equities analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 8th were given a $0.6507 dividend. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.7%. Canadian National Railway's payout ratio is 50.19%.

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.

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