M&T Bank Corp Has $3.86 Million Position in Canadian National Railway Company $CNI

Key Points

• M&T Bank Corp boosted its stake in Canadian National Railway by 551% in Q4 to 39,073 shares, adding 33,071 shares and bringing the position to about $3.86 million.
• Analyst sentiment is mixed: Bank of America upgraded CNI to a Buy with a $122 target, but the MarketBeat consensus remains a Hold at a $119.14 target (nine Buy vs. ten Hold).
• Canadian National raised its quarterly dividend to $0.915 (annualized $3.66), implying roughly a 3.2% yield and a payout ratio near 49%.

M&T Bank Corp grew its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 551.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,073 shares of the transportation company's stock after purchasing an additional 33,071 shares during the quarter. M&T Bank Corp's holdings in Canadian National Railway were worth $3,862,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in Canadian National Railway in the 3rd quarter valued at about $28,000. First Horizon Corp bought a new stake in shares of Canadian National Railway during the third quarter worth approximately $30,000. Costello Asset Management INC boosted its holdings in shares of Canadian National Railway by 83.3% during the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company's stock worth $31,000 after acquiring an additional 150 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Canadian National Railway in the third quarter valued at approximately $50,000. Finally, Fulcrum Asset Management LLP acquired a new position in shares of Canadian National Railway in the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CNI. Bank of America raised Canadian National Railway from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $117.00 to $122.00 in a report on Thursday, April 9th. Stephens decreased their price objective on Canadian National Railway from $105.00 to $100.00 and set an "equal weight" rating on the stock in a report on Monday, February 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Canadian National Railway in a research report on Monday, April 20th. Sanford C. Bernstein lifted their target price on Canadian National Railway from $113.88 to $117.36 and gave the stock a "market perform" rating in a report on Tuesday, March 31st. Finally, Barclays boosted their target price on shares of Canadian National Railway from $97.00 to $98.00 and gave the company an "equal weight" rating in a research report on Friday, March 27th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Canadian National Railway has a consensus rating of "Hold" and a consensus target price of $119.14.

Canadian National Railway Trading Up 0.1%

Shares of NYSE:CNI opened at $114.73 on Monday. The business's 50 day simple moving average is $107.13 and its 200 day simple moving average is $100.92. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $115.15. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47. The company has a market capitalization of $69.84 billion, a P/E ratio of 21.13, a P/E/G ratio of 2.16 and a beta of 0.91.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. The firm had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 EPS. On average, research analysts anticipate that Canadian National Railway Company will post 5.74 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th were paid a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 3.2%. This is a boost from Canadian National Railway's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, March 10th. Canadian National Railway's payout ratio is presently 49.36%.

About Canadian National Railway

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.

Want to see what other hedge funds are holding CNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.