PCJ Investment Counsel Ltd. Takes Position in Canadian National Railway (NYSE:CNI)

PCJ Investment Counsel Ltd. bought a new position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 31,580 shares of the transportation company's stock, valued at approximately $3,203,000. Canadian National Railway makes up 1.1% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 25th biggest holding.

A number of other institutional investors also recently bought and sold shares of CNI. National Bank of Canada FI boosted its position in 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 worth $789,030,000 after purchasing an additional 2,137,948 shares in the last quarter. Canoe Financial LP acquired a new stake in shares of Canadian National Railway during the fourth quarter valued at $216,943,000. Point72 Asset Management L.P. purchased a new stake in Canadian National Railway during the 3rd quarter worth about $159,907,000. Wellington Management Group LLP raised its stake 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 valued at $2,175,935,000 after purchasing an additional 790,420 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in Canadian National Railway by 64.5% in the 3rd quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company's stock valued at $174,813,000 after purchasing an additional 584,832 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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Canadian National Railway Trading Up 1.5 %

Shares of Canadian National Railway stock traded up $1.45 during trading hours on Wednesday, hitting $96.91. The company's stock had a trading volume of 1,746,692 shares, compared to its average volume of 1,181,776. The business has a fifty day moving average of $102.08 and a 200 day moving average of $108.28. Canadian National Railway has a 1-year low of $93.64 and a 1-year 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. The company has a market capitalization of $60.88 billion, a PE ratio of 18.93, a P/E/G ratio of 1.95 and a beta of 0.91.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. As a group, equities analysts forecast that Canadian National Railway will post 5.52 EPS for the current 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 given a dividend of $0.6159 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a yield of 2.54%. Canadian National Railway's payout ratio is 47.85%.

Wall Street Analyst Weigh In

CNI has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Canadian National Railway from $121.00 to $112.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Loop Capital lowered shares of Canadian National Railway from a "hold" rating to a "sell" rating in a report on Monday, February 3rd. Bank of America reduced their target price on shares of Canadian National Railway from $119.00 to $112.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Evercore ISI upgraded shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group upgraded shares of Canadian National Railway from a "hold" rating to a "buy" rating and set a $120.00 target price on the stock in a report on Friday, January 10th. 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 assigned a strong buy rating to the company. According to MarketBeat, Canadian National Railway presently has a consensus 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.