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

Lorne Steinberg Wealth Management Inc. grew its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 15.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 61,119 shares of the transportation company’s stock after acquiring an additional 8,002 shares during the period. Canadian National Railway accounts for about 1.8% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Canadian National Railway were worth $6,200,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CNI. National Bank of Canada FI raised its stake 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 acquiring an additional 2,137,948 shares in the last quarter. Canoe Financial LP bought a new stake in shares of Canadian National Railway during the fourth quarter valued at approximately $216,943,000. Point72 Asset Management L.P. bought a new stake in shares of Canadian National Railway during the third quarter valued at approximately $159,907,000. Wellington Management Group LLP raised its stake in shares of Canadian National Railway by 4.4% during the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock valued at $2,175,935,000 after acquiring an additional 790,420 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Canadian National Railway by 64.5% during the third 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 in the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

CNI has been the subject of several research analyst reports. Royal Bank of Canada decreased their price target on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. raised shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Wells Fargo & Company reduced their price objective on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Stephens reissued an “equal weight” rating and issued a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have given 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.

Canadian National Railway Stock Performance

Shares of CNI opened at $102.79 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. The stock has a 50-day moving average of $102.71 and a two-hundred day moving average of $109.56. The stock has a market cap of $64.58 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.91 and a beta of 0.91. Canadian National Railway has a one year low of $98.69 and a one year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Thursday, January 30th. The transportation company reported $1.30 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%. As a group, research analysts predict that Canadian National Railway will post 5.5 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued 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 dividend yield of 2.40%. The ex-dividend date is Monday, March 10th. Canadian National Railway’s dividend payout ratio is 46.68%.

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.