Addenda Capital Inc. Buys 6,647 Shares of Canadian National Railway (NYSE:CNI)

Addenda Capital Inc. increased its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 455,201 shares of the transportation company’s stock after acquiring an additional 6,647 shares during the quarter. Canadian National Railway comprises about 2.1% of Addenda Capital Inc.’s portfolio, making the stock its 13th largest holding. Addenda Capital Inc. owned approximately 0.07% of Canadian National Railway worth $46,207,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Canadian National Railway by 4.4% during 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. National Bank of Canada FI lifted its position in shares of Canadian National Railway by 46.5% in 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 buying an additional 2,137,948 shares in the last quarter. Fiera Capital Corp boosted its stake in Canadian National Railway by 0.7% during the third quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock valued at $642,828,000 after buying an additional 39,063 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Canadian National Railway by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock valued at $570,667,000 after buying an additional 120,453 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Canadian National Railway by 5.4% in the 3rd 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 Analysts Forecast Growth

CNI has been the subject of a number of recent research reports. Susquehanna cut their target price on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Citigroup upgraded shares of 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 report on Tuesday, November 12th. Barclays lowered their price target on shares of Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a report on Friday. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. One analyst has 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 stock. Based on data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Moderate Buy” and an average target price of $124.02.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $101.54 on Tuesday. The stock has a market cap of $63.85 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 2.29 and a beta of 0.91. The firm has a 50-day moving average of $105.44 and a two-hundred day moving average of $111.82. Canadian National Railway has a 1 year low of $98.96 and a 1 year high of $134.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. Canadian National Railway’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 earnings per share. On average, research analysts forecast that Canadian National Railway will post 5.18 earnings per share for the current year.

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.