Cidel Asset Management Inc. Has $52.87 Million Stock Holdings in Canadian National Railway Company $CNI

Key Points

• Cidel Asset Management increased its stake in Canadian National Railway by 92.4% in Q1, buying 247,450 additional shares and bringing its total holding to 515,357 shares valued at about $52.9 million.
• Canadian National Railway reported Q1 EPS of $1.31 and revenue of $3.15 billion, both in line with analyst expectations, while revenue was slightly lower than a year earlier.
• The company also declared a quarterly dividend of $0.915 per share, equal to an annualized yield of about 3.2%; analysts currently have a consensus rating of Hold with an average price target of $123.24.

Cidel Asset Management Inc. lifted its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 92.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 515,357 shares of the transportation company's stock after purchasing an additional 247,450 shares during the period. Canadian National Railway comprises 2.9% of Cidel Asset Management Inc.'s portfolio, making the stock its 6th largest holding. Cidel Asset Management Inc. owned approximately 0.08% of Canadian National Railway worth $52,874,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Minot DeBlois Advisors LLC boosted its holdings in Canadian National Railway by 2.0% in the 4th quarter. Minot DeBlois Advisors LLC now owns 5,132 shares of the transportation company's stock worth $507,000 after buying an additional 103 shares during the period. Smartleaf Asset Management LLC raised its holdings in Canadian National Railway by 19.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 635 shares of the transportation company's stock valued at $63,000 after acquiring an additional 103 shares during the period. Tacita Capital Inc raised its holdings in Canadian National Railway by 0.6% during the fourth quarter. Tacita Capital Inc now owns 19,809 shares of the transportation company's stock valued at $1,960,000 after acquiring an additional 109 shares during the period. Roberts Glore & Co. Inc. IL lifted its position 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. Finally, EverSource Wealth Advisors LLC lifted its position 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. 80.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CNI has been the subject of several research analyst reports. Sanford C. Bernstein increased their target price on Canadian National Railway from $113.88 to $117.36 and gave the stock a "market perform" rating in a research report on Tuesday, March 31st. Bank of America upped their price target on Canadian National Railway from $132.00 to $134.00 and gave the stock a "buy" rating in a research note on Tuesday. Weiss Ratings lowered shares of Canadian National Railway from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 4th. Barclays increased their price objective on shares of Canadian National Railway from $98.00 to $99.00 and gave the company an "equal weight" rating in a report on Thursday, April 30th. Finally, Citigroup lifted their price objective on shares of Canadian National Railway from $123.00 to $124.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $123.24.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $114.75 on Wednesday. The company's 50-day moving average price is $114.47 and its 200-day moving average price is $106.61. 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 company has a market cap of $69.62 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.19 and a beta of 0.96. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $122.48.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, meeting analysts' consensus estimates of $1.31. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the firm earned $1.85 EPS. The firm's revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts forecast that Canadian National Railway Company will post 5.76 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.2%. Canadian National Railway's payout ratio is currently 48.55%.

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.

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