Cumberland Partners Ltd Purchases 16,630 Shares of Canadian National Railway (NYSE:CNI)

Cumberland Partners Ltd increased its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 278,413 shares of the transportation company’s stock after purchasing an additional 16,630 shares during the period. Canadian National Railway makes up 2.3% of Cumberland Partners Ltd’s portfolio, making the stock its 15th largest holding. Cumberland Partners Ltd’s holdings in Canadian National Railway were worth $32,633,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Canadian National Railway during the second quarter valued at approximately $26,000. Addison Advisors LLC lifted its position in shares of Canadian National Railway by 159.1% during the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. Fortitude Family Office LLC boosted its stake in shares of Canadian National Railway by 738.7% during the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 229 shares during the period. ORG Partners LLC bought a new position in shares of Canadian National Railway in the second quarter worth about $34,000. Finally, Reston Wealth Management LLC purchased a new position in Canadian National Railway in the 3rd quarter worth about $41,000. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CNI has been the topic of a number of research analyst reports. Stephens restated an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Evercore ISI dropped their price target on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 23rd. Finally, Barclays lifted their price objective on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $125.48.

Canadian National Railway Stock Performance

Canadian National Railway stock traded up $0.68 during trading hours on Tuesday, hitting $112.32. 69,246 shares of the stock traded hands, compared to its average volume of 1,111,376. The firm’s 50 day moving average price is $114.58 and its 200-day moving average price is $118.03. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The stock has a market capitalization of $70.63 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 2.49 and a beta of 0.89. Canadian National Railway has a 1 year low of $107.54 and a 1 year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Canadian National Railway’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities analysts expect that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.18%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.90%.

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.