Canadian National Railway (NYSE:CNI) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 151,874 shares of the transportation company’s stock after buying an additional 4,789 shares during the quarter. Van ECK Associates Corp’s holdings in Canadian National Railway were worth $19,100,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CNI. PDS Planning Inc increased its stake in shares of Canadian National Railway by 2.0% during the fourth quarter. PDS Planning Inc now owns 4,566 shares of the transportation company’s stock worth $574,000 after acquiring an additional 89 shares during the period. Tacita Capital Inc boosted its holdings in Canadian National Railway by 0.4% in the 3rd quarter. Tacita Capital Inc now owns 27,356 shares of the transportation company’s stock valued at $2,972,000 after purchasing an additional 97 shares in the last quarter. Signaturefd LLC increased its position in Canadian National Railway by 1.0% during the 3rd quarter. Signaturefd LLC now owns 10,739 shares of the transportation company’s stock worth $1,163,000 after purchasing an additional 110 shares during the period. Legacy Wealth Asset Management LLC raised its stake in shares of Canadian National Railway by 1.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 10,496 shares of the transportation company’s stock worth $1,137,000 after buying an additional 111 shares in the last quarter. Finally, First Foundation Advisors boosted its stake in shares of Canadian National Railway by 0.9% in the third quarter. First Foundation Advisors now owns 12,852 shares of the transportation company’s stock valued at $1,392,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CNI shares. Stephens reiterated an “equal weight” rating and issued a $140.00 price objective on shares of Canadian National Railway in a research report on Wednesday, April 24th. Susquehanna Bancshares increased their price target on shares of Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a report on Monday, January 8th. Jefferies Financial Group assumed coverage on shares of Canadian National Railway in a report on Monday, April 8th. They set a “hold” rating and a $130.00 price objective on the stock. CIBC cut shares of Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, January 10th. Finally, Barclays lifted their price target on shares of Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Eighteen research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Canadian National Railway presently has a consensus rating of “Hold” and a consensus price target of $149.05.

Canadian National Railway Trading Down 0.3 %

Canadian National Railway stock opened at $121.02 on Thursday. The stock has a market cap of $77.29 billion, a PE ratio of 19.30, a P/E/G ratio of 2.13 and a beta of 0.89. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. The stock has a 50-day moving average price of $129.08 and a 200 day moving average price of $122.72. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s dividend payout ratio is presently 40.03%.

Canadian National Railway Company 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.