Cidel Asset Management Inc. Buys 2,414 Shares of Canadian National Railway Company (NYSE:CNI)

Cidel Asset Management Inc. grew its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 391,333 shares of the transportation company's stock after purchasing an additional 2,414 shares during the quarter. Canadian National Railway comprises approximately 2.5% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 11th largest position. Cidel Asset Management Inc. owned approximately 0.06% of Canadian National Railway worth $38,077,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SVB Wealth LLC acquired a new position in Canadian National Railway during the 4th quarter worth approximately $339,000. Jones Financial Companies Lllp increased its holdings in shares of Canadian National Railway by 6.1% during the fourth quarter. Jones Financial Companies Lllp now owns 5,311 shares of the transportation company's stock valued at $539,000 after acquiring an additional 307 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Canadian National Railway during the fourth quarter valued at approximately $75,000. LGT Group Foundation raised its position in shares of Canadian National Railway by 2.3% during the fourth quarter. LGT Group Foundation now owns 88,693 shares of the transportation company's stock worth $8,995,000 after purchasing an additional 2,005 shares during the period. Finally, Quintet Private Bank Europe S.A. bought a new position in shares of Canadian National Railway in the 4th quarter worth $25,000. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Price Performance

Shares of CNI traded up $0.15 during midday trading on Friday, reaching $106.75. The stock had a trading volume of 761,838 shares, compared to its average volume of 1,325,899. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $67.02 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.99 and a beta of 0.97. The company's 50-day moving average is $103.63 and its 200 day moving average is $101.55. Canadian National Railway Company has a 12-month low of $91.65 and a 12-month high of $123.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. Canadian National Railway had a return on equity of 22.29% and a net margin of 26.19%. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. Canadian National Railway's revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts predict that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 10th were paid a $0.8875 dividend. The ex-dividend date was Monday, June 9th. This is a boost from Canadian National Railway's previous dividend of $0.29. This represents a dividend yield of 2.47%. Canadian National Railway's dividend payout ratio (DPR) is presently 50.49%.

Analyst Upgrades and Downgrades

CNI has been the topic of a number of recent analyst reports. Evercore ISI dropped their price target on Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Citigroup increased their target price on shares of Canadian National Railway from $117.00 to $124.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Stifel Nicolaus reduced their price objective on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $163.00 price target on shares of Canadian National Railway in a research report on Thursday, June 5th. Finally, Bank of America lifted their target price on shares of Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $120.52.

About Canadian National Railway

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.