Hendershot Investments Inc. lifted its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,985 shares of the transportation company’s stock after buying an additional 770 shares during the period. Canadian National Railway comprises about 4.2% of Hendershot Investments Inc.’s investment portfolio, making the stock its 4th largest holding. Hendershot Investments Inc.’s holdings in Canadian National Railway were worth $9,941,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Hall Laurie J Trustee boosted its position in shares of Canadian National Railway by 4.1% during the second quarter. Hall Laurie J Trustee now owns 1,275 shares of the transportation company’s stock worth $103,000 after buying an additional 50 shares during the period. City Holding Co. boosted its position in shares of Canadian National Railway by 15.4% during the second quarter. City Holding Co. now owns 1,313 shares of the transportation company’s stock worth $106,000 after buying an additional 175 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of Canadian National Railway by 0.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,416 shares of the transportation company’s stock worth $115,000 after buying an additional 12 shares during the period. UBS Asset Management Americas Inc. acquired a new position in shares of Canadian National Railway during the first quarter worth about $123,000. Finally, Proficio Capital Partners LLC boosted its position in shares of Canadian National Railway by 0.8% during the second quarter. Proficio Capital Partners LLC now owns 1,783 shares of the transportation company’s stock worth $143,000 after buying an additional 15 shares during the period. 54.32% of the stock is owned by institutional investors.
Canadian National Railway Company (CNI) traded down $0.06 during trading hours on Friday, reaching $80.27. The company’s stock had a trading volume of 628,451 shares, compared to its average volume of 1,067,006. The company has a quick ratio of 0.49, a current ratio of 0.61 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $59,889.44, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.16 and a beta of 1.11. Canadian National Railway Company has a 12-month low of $61.72 and a 12-month high of $84.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a $0.3304 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.32 annualized dividend and a yield of 1.65%. Canadian National Railway’s dividend payout ratio is currently 33.85%.
Canadian National Railway announced that its board has initiated a stock repurchase plan on Tuesday, October 24th that allows the company to repurchase 31,000,000 outstanding shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
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CNI has been the subject of several recent research reports. Zacks Investment Research cut Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Credit Suisse Group reiterated a “neutral” rating and set a $84.00 target price (up previously from $78.00) on shares of Canadian National Railway in a report on Thursday, July 13th. They noted that the move was a valuation call. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian National Railway in a report on Wednesday, October 25th. Deutsche Bank AG assumed coverage on Canadian National Railway in a report on Wednesday. They set a “sell” rating and a $73.00 target price on the stock. Finally, BidaskClub lowered Canadian National Railway from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $79.00.
Canadian National Railway Profile
Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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