Osher Van de Voorde Investment Management Raises Position in Canadian National Railway (NYSE:CNI)

Osher Van de Voorde Investment Management grew its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 135,636 shares of the transportation company’s stock after purchasing an additional 230 shares during the quarter. Canadian National Railway makes up about 3.4% of Osher Van de Voorde Investment Management’s investment portfolio, making the stock its 22nd biggest position. Osher Van de Voorde Investment Management’s holdings in Canadian National Railway were worth $15,890,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Canadian National Railway during the 2nd quarter worth $26,000. GAMMA Investing LLC lifted its stake in shares of Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after purchasing an additional 207 shares during the period. Addison Advisors LLC lifted its stake in shares of Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares during the period. ORG Partners LLC purchased a new position in shares of Canadian National Railway during the 2nd quarter worth $34,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Canadian National Railway during the 1st quarter worth $64,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.3 %

Shares of Canadian National Railway stock opened at $113.44 on Wednesday. The business has a 50-day moving average of $115.47 and a 200-day moving average of $120.92. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. The company has a market capitalization of $71.44 billion, a PE ratio of 18.09, a P/E/G ratio of 2.41 and a beta of 0.88. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.09). The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, equities analysts forecast that Canadian National Railway will post 5.58 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a dividend of $0.614 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.46 annualized dividend and a dividend yield of 2.17%. Canadian National Railway’s dividend payout ratio is presently 39.08%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CNI shares. Stephens dropped their price objective on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $129.00 to $122.00 in a report on Friday, October 4th. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a report on Monday. Finally, Barclays upped their price objective on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Sixteen equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $129.28.

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.