OLD National Bancorp IN Acquires 196 Shares of Canadian National Railway (NYSE:CNI)

OLD National Bancorp IN lifted its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,600 shares of the transportation company’s stock after acquiring an additional 196 shares during the quarter. OLD National Bancorp IN’s holdings in Canadian National Railway were worth $327,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CNI. JFS Wealth Advisors LLC raised its holdings in shares of Canadian National Railway by 241.1% in the third quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 229 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Canadian National Railway by 121.0% in the third quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock worth $40,000 after purchasing an additional 202 shares in the last quarter. Rational Advisors LLC bought a new position in Canadian National Railway in the third quarter worth about $41,000. Crewe Advisors LLC bought a new position in Canadian National Railway in the third quarter worth about $43,000. Finally, Keener Financial Planning LLC bought a new position in Canadian National Railway in the fourth quarter worth about $46,000. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Trading Up 1.6 %

Shares of CNI stock opened at $124.78 on Friday. The stock’s fifty day moving average is $129.58 and its two-hundred day moving average is $122.22. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.47 and a current ratio of 0.60. The firm has a market capitalization of $79.70 billion, a P/E ratio of 19.90, a PEG ratio of 2.14 and a beta of 0.88. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.25 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. Research analysts expect that Canadian National Railway will post 5.93 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a yield of 2.00%. Canadian National Railway’s payout ratio is currently 39.71%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CNI. Stifel Nicolaus boosted their price target on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Jefferies Financial Group assumed coverage on Canadian National Railway in a research report on Monday, April 8th. They issued a “hold” rating and a $130.00 target price on the stock. Citigroup upped their target price on Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Stephens reiterated an “equal weight” rating and issued a $140.00 target price on shares of Canadian National Railway in a research report on Wednesday. Finally, TD Securities lowered Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Eighteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $148.60.

About Canadian National Railway

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.