Charles Schwab Investment Management Inc. Raises Stock Holdings in Canadian National Railway (NYSE:CNI)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.1% in the third quarter, Holdings Channel.com reports. The fund owned 1,368,496 shares of the transportation company’s stock after acquiring an additional 66,531 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Canadian National Railway were worth $160,419,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Canadian National Railway during the second quarter worth $26,000. Addison Advisors LLC lifted its holdings in Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after buying an additional 148 shares in the last quarter. Fortitude Family Office LLC boosted its position in Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares during the period. Coastline Trust Co bought a new position in Canadian National Railway in the 3rd quarter worth about $34,000. Finally, ORG Partners LLC bought a new position in Canadian National Railway in the 2nd quarter worth about $34,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 1.9 %

Canadian National Railway stock opened at $111.24 on Monday. Canadian National Railway has a 1-year low of $105.28 and a 1-year high of $134.02. The business has a fifty day moving average price of $113.14 and a 200-day moving average price of $117.11. 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 $70.06 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.51 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 earnings per share. Equities research analysts forecast that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. Canadian National Railway’s payout ratio is 39.26%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CNI. Barclays boosted their price target 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. Stifel Nicolaus upped their target price on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Finally, Stephens reiterated an “equal weight” rating and set a $116.00 target price on shares of Canadian National Railway in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $125.48.

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.