Canadian National Railway (NYSE:CNI) Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 388,919 shares of the transportation company's stock after buying an additional 19,978 shares during the quarter. Canadian National Railway makes up 2.7% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 6th largest position. Cidel Asset Management Inc. owned about 0.06% of Canadian National Railway worth $39,473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Diversified Trust Co acquired a new stake in shares of Canadian National Railway in the third quarter worth approximately $288,000. Atomi Financial Group Inc. boosted its position in shares of Canadian National Railway by 53.3% in the third quarter. Atomi Financial Group Inc. now owns 4,094 shares of the transportation company's stock worth $480,000 after acquiring an additional 1,423 shares during the last quarter. Strong Tower Advisory Services boosted its position in shares of Canadian National Railway by 14.0% in the third quarter. Strong Tower Advisory Services now owns 15,083 shares of the transportation company's stock worth $1,767,000 after acquiring an additional 1,856 shares during the last quarter. First Affirmative Financial Network boosted its position in shares of Canadian National Railway by 16.8% in the third quarter. First Affirmative Financial Network now owns 5,014 shares of the transportation company's stock worth $587,000 after acquiring an additional 721 shares during the last quarter. Finally, Atwater Malick LLC boosted its position in shares of Canadian National Railway by 0.6% in the third quarter. Atwater Malick LLC now owns 75,579 shares of the transportation company's stock worth $8,854,000 after acquiring an additional 458 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Stock Down 0.3 %

Shares of NYSE:CNI traded down $0.27 during midday trading on Wednesday, reaching $102.65. The company had a trading volume of 951,958 shares, compared to its average volume of 1,378,177. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. The stock's fifty day moving average price is $103.26 and its 200-day moving average price is $109.98. The stock has a market capitalization of $64.49 billion, a P/E ratio of 20.05, a PEG ratio of 1.94 and a beta of 0.91. Canadian National Railway has a one year low of $98.69 and a one year high of $134.02.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. Equities research analysts expect that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.6159 per share. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.46 annualized dividend and a yield of 2.40%. Canadian National Railway's payout ratio is presently 47.66%.

Analysts Set New Price Targets

CNI has been the topic of a number of recent research reports. Bank of America reduced their price target on shares of Canadian National Railway from $119.00 to $112.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Benchmark reaffirmed a "hold" rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Citigroup raised shares of Canadian National Railway from a "neutral" rating to a "buy" rating and lifted their price target for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. TD Securities raised shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 13th. Finally, Susquehanna reduced their price target on shares of Canadian National Railway from $125.00 to $115.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Canadian National Railway has an average rating of "Moderate Buy" and an average price target of $124.19.

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.