Canadian National Railway (NYSE:CNI) Stake Lifted by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,000 shares of the transportation company’s stock after purchasing an additional 2,000 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Canadian National Railway were worth $4,042,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CNI. Hall Laurie J Trustee boosted its stake in shares of Canadian National Railway by 4.1% in the 2nd quarter. Hall Laurie J Trustee now owns 1,275 shares of the transportation company’s stock valued at $103,000 after purchasing an additional 50 shares in the last quarter. Sowell Financial Services LLC bought a new position in Canadian National Railway in the 3rd quarter valued at approximately $200,000. Security National Bank of SO Dak bought a new position in Canadian National Railway in the 3rd quarter valued at approximately $203,000. Dean Capital Investments Management LLC bought a new position in Canadian National Railway in the 4th quarter valued at approximately $205,000. Finally, CAPROCK Group Inc. bought a new position in Canadian National Railway in the 3rd quarter valued at approximately $216,000. Institutional investors and hedge funds own 53.66% of the company’s stock.

Several research firms have issued reports on CNI. Desjardins upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. They noted that the move was a valuation call. Goldman Sachs Group began coverage on shares of Canadian National Railway in a research note on Monday, November 13th. They issued a “buy” rating and a $85.00 price objective for the company. Zacks Investment Research upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Monday, January 15th. Finally, Raymond James Financial downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $81.38.

Shares of Canadian National Railway (NYSE CNI) traded up $0.66 during trading on Friday, reaching $75.11. The company had a trading volume of 1,830,000 shares, compared to its average volume of 1,430,000. Canadian National Railway has a fifty-two week low of $69.73 and a fifty-two week high of $85.73. The company has a market cap of $56,000.00, a PE ratio of 12.99, a P/E/G ratio of 1.87 and a beta of 1.01. The company has a quick ratio of 0.44, a current ratio of 0.55 and a debt-to-equity ratio of 0.53.

Canadian National Railway announced that its Board of Directors has initiated a share buyback plan on Tuesday, October 24th that permits the company to repurchase 31,000,000 outstanding shares. This repurchase authorization permits the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 8th will be paid a $0.3665 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.47 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Wednesday, March 7th. Canadian National Railway’s payout ratio is currently 22.66%.

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Canadian National Railway Company 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.

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

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