Dixon Mitchell Investment Counsel Inc. Raises Holdings in Canadian National Railway (NYSE:CNI)

Dixon Mitchell Investment Counsel Inc. boosted its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 490,939 shares of the transportation company’s stock after acquiring an additional 11,004 shares during the quarter. Canadian National Railway accounts for 2.3% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 20th largest position. Dixon Mitchell Investment Counsel Inc. owned approximately 0.08% of Canadian National Railway worth $49,853,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Fortitude Family Office LLC increased its holdings in shares of Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 229 shares in the last quarter. Coastline Trust Co acquired a new stake in Canadian National Railway during the third quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Canadian National Railway by 48.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after buying an additional 108 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Canadian National Railway in the third quarter worth about $41,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Canadian National Railway during the 3rd quarter worth about $56,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

CNI stock opened at $101.33 on Thursday. 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. The firm has a market capitalization of $63.72 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.21 and a beta of 0.91. The business has a 50 day simple moving average of $106.08 and a 200-day simple moving average of $112.17.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the business earned $1.26 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. Equities research analysts anticipate that Canadian National Railway will post 5.21 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 38.30%.

Analyst Ratings Changes

Several brokerages recently weighed in on CNI. Susquehanna cut their price target on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus upgraded Canadian National Railway from a “hold” rating to a “buy” rating and cut their price objective for the company from $132.00 to $120.00 in a research report on Thursday. Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $126.00 to $130.00 in a report on Tuesday, November 12th. Finally, Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.77.

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.