Hillsdale Investment Management Inc. Increases Stock Holdings in Canadian National Railway Company $CNI

Key Points

• Hillsdale Investment Management increased its Canadian National Railway stake by 21.2% in the first quarter, ending with 96,553 shares worth about $9.94 million.
• Several other hedge funds also added to their positions, and overall institutional ownership stands at 80.74% of the stock.
• Analysts remain generally constructive on CNI, with an average “Moderate Buy” rating and a consensus price target of $129.94; the shares recently traded near their 12-month high at $125.36.

Hillsdale Investment Management Inc. boosted its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 21.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,553 shares of the transportation company's stock after buying an additional 16,856 shares during the period. Hillsdale Investment Management Inc.'s holdings in Canadian National Railway were worth $9,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. LGT Fund Management Co Ltd. boosted its holdings in Canadian National Railway by 98.1% in the first quarter. LGT Fund Management Co Ltd. now owns 40,889 shares of the transportation company's stock worth $4,209,000 after acquiring an additional 20,249 shares in the last quarter. Carnegie Investment Counsel increased its holdings in shares of Canadian National Railway by 7.9% during the first quarter. Carnegie Investment Counsel now owns 3,763 shares of the transportation company's stock valued at $387,000 after acquiring an additional 277 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Canadian National Railway by 22.8% during the first quarter. Fifth Third Bancorp now owns 15,366 shares of the transportation company's stock valued at $1,579,000 after acquiring an additional 2,849 shares in the last quarter. Markel Group Inc. increased its holdings in shares of Canadian National Railway by 20.2% during the first quarter. Markel Group Inc. now owns 53,500 shares of the transportation company's stock valued at $5,498,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Farrow Financial Inc. raised its position in shares of Canadian National Railway by 9.3% in the 1st quarter. Farrow Financial Inc. now owns 24,752 shares of the transportation company's stock valued at $2,544,000 after purchasing an additional 2,102 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on CNI shares. Sanford C. Bernstein lifted their target price on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a "market perform" rating in a research note on Tuesday, March 31st. Stephens upgraded shares of Canadian National Railway to a "hold" rating in a research note on Wednesday, July 8th. Citigroup boosted their price objective on shares of Canadian National Railway from $124.00 to $141.00 and gave the company a "buy" rating in a report on Thursday, July 9th. 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, Royal Bank Of Canada raised their target price on Canadian National Railway from $160.00 to $178.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Canadian National Railway presently has an average rating of "Moderate Buy" and an average target price of $129.94.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $125.36 on Tuesday. The company has a 50 day simple moving average of $117.25 and a two-hundred day simple moving average of $108.91. The stock has a market cap of $75.97 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 2.35 and a beta of 0.96. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $126.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, hitting 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 for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business earned $1.85 earnings per share. The business's quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts predict that Canadian National Railway Company will post 5.72 earnings per share for the current year.

Canadian National Railway Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 9th. Canadian National Railway's dividend payout ratio (DPR) 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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