Lorne Steinberg Wealth Management Inc. Purchases 5,340 Shares of Canadian National Railway Company (NYSE:CNI)

Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 8.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 66,459 shares of the transportation company's stock after purchasing an additional 5,340 shares during the period. Canadian National Railway accounts for about 1.9% of Lorne Steinberg Wealth Management Inc.'s portfolio, making the stock its 22nd largest position. Lorne Steinberg Wealth Management Inc.'s holdings in Canadian National Railway were worth $6,474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada boosted its position in Canadian National Railway by 7.5% in the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock valued at $2,817,616,000 after buying an additional 1,934,622 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Canadian National Railway by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 22,986,678 shares of the transportation company's stock worth $2,334,251,000 after acquiring an additional 101,228 shares during the last quarter. Capital International Investors lifted its stake in shares of Canadian National Railway by 12.8% during the fourth quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock valued at $1,199,680,000 after acquiring an additional 1,341,133 shares during the period. TD Asset Management Inc. boosted its holdings in Canadian National Railway by 2.7% in the fourth quarter. TD Asset Management Inc. now owns 11,768,500 shares of the transportation company's stock valued at $1,194,443,000 after acquiring an additional 309,210 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd raised its holdings in Canadian National Railway by 4.8% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock worth $926,573,000 after purchasing an additional 422,078 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNI has been the topic of several recent research reports. Barclays reduced their target price on shares of Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen raised shares of Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. 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 report on Friday, May 16th. Royal Bank Of Canada reissued an "outperform" rating and issued a $163.00 price target on shares of Canadian National Railway in a research note on Thursday, June 5th. Finally, Stifel Nicolaus reduced their price target on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $120.36.

Canadian National Railway Stock Down 0.3%

Shares of NYSE:CNI traded down $0.29 during trading on Wednesday, hitting $101.77. 1,322,029 shares of the company's stock traded hands, compared to its average volume of 1,334,380. 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 50-day moving average price of $102.31 and a 200-day moving average price of $101.77. Canadian National Railway Company has a 52 week low of $91.65 and a 52 week high of $123.96. The company has a market cap of $63.90 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.90 and a beta of 0.98.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Thursday, May 1st. The transportation company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.26 by $0.03. Canadian National Railway had a net margin of 26.19% and a return on equity of 22.29%. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period last year, the company posted $1.72 EPS. The business's quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.8875 per share. This represents a dividend yield of 2.47%. This is a positive change from Canadian National Railway's previous dividend of $0.29. The ex-dividend date is Monday, June 9th. Canadian National Railway's dividend payout ratio (DPR) is presently 50.49%.

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.