Kornitzer Capital Management Inc. KS Has $13.90 Million Holdings in Canadian National Railway (NYSE:CNI)

Kornitzer Capital Management Inc. KS grew its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 20.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,616 shares of the transportation company’s stock after purchasing an additional 18,616 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Canadian National Railway were worth $13,897,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CNI. Vanguard Group Inc. boosted its stake in Canadian National Railway by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 20,007,681 shares of the transportation company’s stock valued at $2,683,831,000 after purchasing an additional 554,280 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in Canadian National Railway by 5.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after purchasing an additional 625,500 shares in the last quarter. Norges Bank acquired a new stake in Canadian National Railway during the 4th quarter valued at $727,713,000. Deutsche Bank AG increased its holdings in Canadian National Railway by 7.3% during the 3rd quarter. Deutsche Bank AG now owns 5,575,661 shares of the transportation company’s stock valued at $604,011,000 after purchasing an additional 378,513 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Canadian National Railway by 2.2% during the 3rd quarter. Legal & General Group Plc now owns 4,477,999 shares of the transportation company’s stock valued at $487,145,000 after purchasing an additional 97,818 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CNI. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price target for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Susquehanna Bancshares increased their price objective on Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a research report on Monday, January 8th. Wells Fargo & Company increased their price objective on Canadian National Railway from $110.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Stifel Nicolaus increased their price objective on Canadian National Railway from $121.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 10th. Eighteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Canadian National Railway presently has an average rating of “Hold” and an average target price of $147.52.

Canadian National Railway Stock Up 0.4 %

Shares of NYSE:CNI traded up $0.49 during midday trading on Friday, reaching $127.65. The company had a trading volume of 740,901 shares, compared to its average volume of 837,345. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average price is $129.70 and its 200 day moving average price is $121.66. The stock has a market cap of $81.53 billion, a PE ratio of 20.13, a P/E/G ratio of 2.21 and a beta of 0.88. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.25 billion. Canadian National Railway had a return on equity of 23.56% and a net margin of 33.38%. Research analysts forecast that Canadian National Railway will post 5.94 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th were given a dividend of $0.638 per share. This represents a $2.55 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Wednesday, March 6th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.58. Canadian National Railway’s payout ratio is 39.59%.

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.