Forge First Asset Management Inc. Takes Position in Canadian National Railway (NYSE:CNI)

Forge First Asset Management Inc. purchased a new stake in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 176,800 shares of the transportation company's stock, valued at approximately $17,927,000. Canadian National Railway accounts for 6.4% of Forge First Asset Management Inc.'s holdings, making the stock its 4th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNI. YCG LLC grew its holdings in shares of Canadian National Railway by 15.6% during the fourth quarter. YCG LLC now owns 340,959 shares of the transportation company's stock worth $34,611,000 after purchasing an additional 46,133 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Canadian National Railway by 6.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,397 shares of the transportation company's stock worth $649,000 after buying an additional 397 shares in the last quarter. Natural Investments LLC purchased a new stake in Canadian National Railway in the fourth quarter worth approximately $470,000. AGF Management Ltd. boosted its stake in Canadian National Railway by 26.7% in the fourth quarter. AGF Management Ltd. now owns 921,396 shares of the transportation company's stock worth $93,531,000 after buying an additional 194,343 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Canadian National Railway by 13.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 249,526 shares of the transportation company's stock valued at $25,326,000 after purchasing an additional 29,856 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America lowered their price objective on Canadian National Railway from $119.00 to $112.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company decreased their target price on Canadian National Railway from $125.00 to $123.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Citigroup upgraded Canadian National Railway from a "neutral" rating to a "buy" rating and upped their target price for the company from $126.00 to $130.00 in a report on Tuesday, November 12th. Stifel Nicolaus upped their target price on Canadian National Railway from $120.00 to $125.00 and gave the company a "buy" rating in a report on Friday, January 31st. Finally, Jefferies Financial Group upgraded Canadian National Railway from a "hold" rating to a "buy" rating and set a $120.00 target price for the company in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway currently has an average rating of "Moderate Buy" and a consensus target price of $124.19.

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Canadian National Railway Trading Down 2.9 %

Canadian National Railway stock opened at $95.33 on Wednesday. The business has a 50-day simple moving average of $102.08 and a two-hundred day simple moving average of $108.28. The company has a market cap of $59.89 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.95 and a beta of 0.91. Canadian National Railway has a 52-week low of $93.64 and a 52-week high of $134.02. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. Analysts predict that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.6159 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.46 annualized dividend and a dividend yield of 2.58%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. Canadian National Railway's payout ratio is currently 47.85%.

Canadian National Railway 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.

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