DORCHESTER WEALTH MANAGEMENT Co lowered its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,940 shares of the transportation company’s stock after selling 847 shares during the quarter. Canadian National Railway accounts for about 2.8% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 7th biggest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Canadian National Railway were worth $11,359,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Canadian National Railway during the 4th quarter valued at $790,551,000. Bank of New York Mellon Corp grew its stake in shares of Canadian National Railway by 134.6% during the 4th quarter. Bank of New York Mellon Corp now owns 9,054,282 shares of the transportation company’s stock valued at $994,611,000 after purchasing an additional 5,195,624 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Canadian National Railway by 1,248.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,000,000 shares of the transportation company’s stock valued at $109,843,000 after purchasing an additional 925,820 shares during the last quarter. Maj Invest Holding A S lifted its stake in shares of Canadian National Railway by 45.3% in the 4th quarter. Maj Invest Holding A S now owns 1,833,264 shares of the transportation company’s stock worth $201,358,000 after purchasing an additional 571,356 shares during the period. Finally, First Trust Advisors LP bought a new stake in Canadian National Railway during the fourth quarter valued at approximately $54,001,000. 54.23% of the stock is currently owned by institutional investors.
Shares of NYSE CNI traded down $0.63 during trading on Thursday, hitting $110.34. 84,849 shares of the company were exchanged, compared to its average volume of 990,481. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.85 and a current ratio of 1.05. Canadian National Railway has a 12-month low of $75.92 and a 12-month high of $119.61. The company has a fifty day moving average price of $115.93 and a 200-day moving average price of $110.35. The firm has a market capitalization of $78.33 billion, a PE ratio of 30.94, a P/E/G ratio of 3.36 and a beta of 0.83.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Wednesday, March 10th were paid a dividend of $0.4803 per share. This represents a $1.92 annualized dividend and a yield of 1.74%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Tuesday, March 9th. Canadian National Railway’s payout ratio is presently 41.00%.
Several brokerages recently issued reports on CNI. Cowen downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $116.00 to $107.00 in a research note on Wednesday, January 27th. Scotiabank reduced their target price on Canadian National Railway from $145.00 to $143.00 and set a “sector perform” rating on the stock in a report on Wednesday. CIBC raised their price target on Canadian National Railway from $142.00 to $148.00 and gave the company a “neutral” rating in a report on Friday, March 26th. BMO Capital Markets lowered their target price on Canadian National Railway from $152.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, March 22nd. Finally, Smith Barney Citigroup upped their price target on shares of Canadian National Railway from $110.00 to $127.00 in a research note on Monday, January 11th. Sixteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $121.37.
About Canadian National Railway
Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. Its portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.
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