Chemical Bank Has $525,000 Position in Canadian National Railway (CNI)

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Chemical Bank lifted its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 28.2% during the third quarter, HoldingsChannel.com reports. The firm owned 5,843 shares of the transportation company’s stock after purchasing an additional 1,287 shares during the quarter. Chemical Bank’s holdings in Canadian National Railway were worth $525,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Zions Bancorporation bought a new stake in shares of Canadian National Railway during the 3rd quarter valued at $102,000. Palo Capital Inc. bought a new stake in shares of Canadian National Railway during the 3rd quarter valued at $114,000. Cubist Systematic Strategies LLC bought a new stake in shares of Canadian National Railway during the 1st quarter valued at $117,000. Quad Cities Investment Group LLC bought a new stake in shares of Canadian National Railway during the 2nd quarter valued at $165,000. Finally, First Hawaiian Bank bought a new stake in shares of Canadian National Railway during the 3rd quarter valued at $175,000. Institutional investors own 54.00% of the company’s stock.

Shares of NYSE CNI opened at $85.72 on Friday. The stock has a market capitalization of $62.96 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.72. Canadian National Railway has a twelve month low of $70.59 and a twelve month high of $91.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, October 23rd. The transportation company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.38. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.58 billion. Canadian National Railway had a return on equity of 22.67% and a net margin of 42.06%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. Research analysts forecast that Canadian National Railway will post 4.18 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be issued a $0.3477 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.34. This represents a $1.39 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Thursday, December 6th. Canadian National Railway’s dividend payout ratio is presently 35.94%.

A number of analysts recently issued reports on CNI shares. Bank of America lowered Canadian National Railway from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Tuesday, September 25th. Zacks Investment Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research note on Wednesday, October 10th. Credit Suisse Group upped their target price on Canadian National Railway from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 24th. Finally, BMO Capital Markets lowered Canadian National Railway from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 5th. They noted that the move was a valuation call. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $92.07.

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About Canadian National Railway

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

Further Reading: Inflation

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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