Lorne Steinberg Wealth Management Inc. Acquires 8,002 Shares of Canadian National Railway (NYSE:CNI)

Lorne Steinberg Wealth Management Inc. grew its position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 15.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,119 shares of the transportation company's stock after purchasing an additional 8,002 shares during the quarter. Canadian National Railway makes up about 1.8% of Lorne Steinberg Wealth Management Inc.'s investment portfolio, making the stock its 28th largest holding. Lorne Steinberg Wealth Management Inc.'s holdings in Canadian National Railway were worth $6,200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNI. Wellington Management Group LLP lifted its holdings in Canadian National Railway by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company's stock worth $2,175,935,000 after purchasing an additional 790,420 shares in the last quarter. National Bank of Canada FI raised its position in shares of Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company's stock valued at $789,030,000 after buying an additional 2,137,948 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of Canadian National Railway by 2.6% in the fourth quarter. Fiera Capital Corp now owns 5,624,594 shares of the transportation company's stock worth $570,550,000 after buying an additional 142,070 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Canadian National Railway by 12.6% in the fourth quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company's stock worth $519,843,000 after buying an additional 571,967 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Canadian National Railway by 5.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company's stock worth $464,002,000 after acquiring an additional 202,303 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNI has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Canadian National Railway from $125.00 to $123.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Citigroup upgraded Canadian National Railway from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. Royal Bank of Canada cut their price target on Canadian National Railway from $174.00 to $171.00 and set an "outperform" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. raised Canadian National Railway from a "neutral" rating to an "overweight" rating in a research note on Tuesday, January 7th. Finally, TD Securities upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Canadian National Railway currently has an average rating of "Moderate Buy" and a consensus target price of $124.19.

Canadian National Railway Trading Up 0.1 %

Canadian National Railway stock traded up $0.15 during midday trading on Friday, reaching $103.98. The stock had a trading volume of 1,342,664 shares, compared to its average volume of 1,372,140. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The firm has a market cap of $65.33 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.93 and a beta of 0.91. Canadian National Railway has a 52-week low of $98.69 and a 52-week high of $134.02. The company has a fifty day moving average of $102.64 and a 200 day moving average of $109.47.

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%. On average, analysts anticipate that Canadian National Railway will post 5.5 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.6159 dividend. This represents a $2.46 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. Canadian National Railway's dividend payout ratio (DPR) is currently 47.66%.

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.