CIBC Private Wealth Group LLC Boosts Stock Holdings in Canadian National Railway (NYSE:CNI)

CIBC Private Wealth Group LLC grew its position in shares of Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) by 0.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 276,253 shares of the transportation company’s stock after acquiring an additional 122 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Canadian National Railway were worth $29,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Canadian National Railway by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 21,762,307 shares of the transportation company’s stock worth $2,350,111,000 after acquiring an additional 800,108 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Canadian National Railway by 5.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 12,333,700 shares of the transportation company’s stock valued at $1,655,948,000 after acquiring an additional 625,000 shares during the period. Mackenzie Financial Corp raised its stake in Canadian National Railway by 2.2% in the 3rd quarter. Mackenzie Financial Corp now owns 12,044,663 shares of the transportation company’s stock valued at $1,299,315,000 after acquiring an additional 260,003 shares during the period. Deutsche Bank AG increased its position in shares of Canadian National Railway by 59.3% during the second quarter. Deutsche Bank AG now owns 8,698,104 shares of the transportation company’s stock valued at $978,277,000 after buying an additional 3,237,217 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Canadian National Railway by 6.5% during the third quarter. The Manufacturers Life Insurance Company now owns 8,671,552 shares of the transportation company’s stock valued at $945,638,000 after buying an additional 531,876 shares during the period. 86.96% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

NYSE:CNI opened at $116.17 on Wednesday. The firm has a market cap of $77.85 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.01 and a beta of 0.91. Canadian National Railway has a fifty-two week low of $103.79 and a fifty-two week high of $137.19. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.66 and a current ratio of 0.84. The business has a 50 day moving average price of $119.02 and a 200-day moving average price of $118.85.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be issued a dividend of $0.5906 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, March 9th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.53. Canadian National Railway’s dividend payout ratio is currently 40.63%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CNI shares. Credit Suisse Group decreased their price target on Canadian National Railway from $133.00 to $128.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 25th. StockNews.com raised Canadian National Railway from a “hold” rating to a “buy” rating in a report on Wednesday, March 8th. Barclays boosted their price objective on Canadian National Railway from $118.00 to $127.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 11th. The Goldman Sachs Group lowered Canadian National Railway from a “neutral” rating to a “sell” rating in a report on Tuesday, January 10th. Finally, Atb Cap Markets reaffirmed a “sector perform” rating on shares of Canadian National Railway in a research note on Tuesday, December 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Hold” and a consensus target price of $142.35.

Canadian National Railway Profile

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Canadian National Railway Co engages in rail and related transportation business. Its services include rail, intermodal, trucking, supply chain services, business development and maps and network. Its offers their services in automotive, coal, fertilizer, food and beverages, forest products, dimensional loads, grain, metals and minerals and petroleum and chemicals industries.