TD Waterhouse Canada Inc. Purchases 248,401 Shares of Canadian National Railway Company $CNI

Key Points

• TD Waterhouse Canada increased its Canadian National Railway stake by 5.8%, adding 248,401 shares to hold 4.55 million shares valued at approximately $532.5 million. Institutional investors collectively own 80.74% of the company.
• Analysts maintain a “Moderate Buy” consensus, with nine Buy and nine Hold ratings and an average price target of $137.49, despite Citigroup reducing its target to $143.
• Canadian National Railway reported quarterly earnings of $1.50 per share, exceeding estimates, while revenue rose 11.3% year over year to $3.35 billion. The company also pays an annualized dividend of $3.66, yielding about 3.0%.

TD Waterhouse Canada Inc. raised its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 5.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 4,546,356 shares of the transportation company's stock after purchasing an additional 248,401 shares during the period. Canadian National Railway accounts for approximately 1.4% of TD Waterhouse Canada Inc.'s portfolio, making the stock its 17th largest position. TD Waterhouse Canada Inc. owned 0.75% of Canadian National Railway worth $532,519,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Two Sigma Securities LLC raised its stake in Canadian National Railway by 179.9% during the second quarter. Two Sigma Securities LLC now owns 14,684 shares of the transportation company's stock worth $1,751,000 after buying an additional 9,438 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in Canadian National Railway during the second quarter valued at $9,308,000. Puzo Michael J bought a new stake in Canadian National Railway during the second quarter valued at $5,915,000. Canandaigua National Bank & Trust Co. acquired a new stake in Canadian National Railway during the 2nd quarter worth about $1,948,000. Finally, Cardinal Capital Management Inc. grew its holdings in Canadian National Railway by 5.8% during the 2nd quarter. Cardinal Capital Management Inc. now owns 1,254,252 shares of the transportation company's stock worth $149,384,000 after acquiring an additional 68,791 shares during the period. 80.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Citigroup lowered their price objective on Canadian National Railway from $151.00 to $143.00 and set a "buy" rating for the company in a research report on Wednesday, October 7th. Stephens upgraded Canadian National Railway to a "hold" rating in a research report on Wednesday, July 8th. Citizens Jmp assumed coverage on Canadian National Railway in a research note on Wednesday, July 15th. They set a "market perform" rating for the company. Weiss Ratings upgraded Canadian National Railway from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 13th. Finally, Argus reiterated a "hold" rating on shares of Canadian National Railway in a report on Monday, August 31st. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $137.49.

Canadian National Railway Stock Up 0.9%

NYSE CNI traded up $1.11 on Friday, hitting $121.85. 809,684 shares of the company were exchanged, compared to its average volume of 1,052,668. The company has a market cap of $73.42 billion, a PE ratio of 21.61, a PEG ratio of 2.16 and a beta of 0.96. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $131.55. The stock has a fifty day moving average of $122.33 and a 200-day moving average of $119.02. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 0.99.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The business had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.26 billion. During the same period last year, the company posted $1.87 earnings per share. The business's quarterly revenue was up 11.3% on a year-over-year basis. As a group, analysts forecast that Canadian National Railway Company will post 5.80 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th were paid a C$0.92 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $3.66 annualized dividend and a dividend yield of 3.0%. Canadian National Railway's dividend payout ratio (DPR) is currently 46.10%.

Canadian National Railway Profile

Canadian National Railway Company NYSE: CNI is a transportation and logistics company that operates a major freight rail network in Canada and the United States. Its network connects the Atlantic, Pacific and Gulf coasts, serving ports, industrial centers, agricultural regions and major population markets.

CN transports a broad range of commodities and manufactured goods, including forest products, grain and fertilizers, coal, metals and minerals, petroleum and chemicals, automotive products, and consumer goods.

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