Canadian National Railway (NYSE:CNI) Shares Bought by Bristol Gate Capital Partners Inc.

Bristol Gate Capital Partners Inc. lifted its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 10.2% during the fourth quarter, HoldingsChannel reports. The firm owned 9,108 shares of the transportation company’s stock after purchasing an additional 840 shares during the quarter. Bristol Gate Capital Partners Inc.’s holdings in Canadian National Railway were worth $924,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Canadian National Railway during the fourth quarter worth about $563,048,000. Canoe Financial LP acquired a new stake in shares of Canadian National Railway during the fourth quarter worth approximately $216,943,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Canadian National Railway by 29.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company’s stock worth $488,488,000 after buying an additional 1,102,977 shares during the last quarter. Geode Capital Management LLC raised its holdings in Canadian National Railway by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 3,306,192 shares of the transportation company’s stock valued at $340,987,000 after acquiring an additional 743,712 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in Canadian National Railway by 64.5% during the 3rd quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock valued at $174,813,000 after acquiring an additional 584,832 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CNI shares. Barclays dropped their target price on shares of Canadian National Railway from $112.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. raised shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Loop Capital lowered Canadian National Railway from a “hold” rating to a “sell” rating in a report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Jefferies Financial Group upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Moderate Buy” and an average target price of $123.36.

Canadian National Railway Stock Performance

NYSE:CNI opened at $96.61 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average of $100.46 and a 200-day moving average of $105.78. Canadian National Railway has a twelve month low of $93.64 and a twelve month high of $132.27. The firm has a market cap of $60.71 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 1.95 and a beta of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released 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 net margin of 26.09% and a return on equity of 22.48%. Analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $0.6159 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Monday, March 10th. Canadian National Railway’s dividend payout ratio is currently 47.66%.

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.