Mission Wealth Management LP Takes Position in Canadian National Railway (CNI)

Mission Wealth Management LP purchased a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,299 shares of the transportation company’s stock, valued at approximately $355,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNI. Sterling Capital Management LLC increased its holdings in shares of Canadian National Railway by 4.9% in the second quarter. Sterling Capital Management LLC now owns 3,555 shares of the transportation company’s stock worth $288,000 after buying an additional 166 shares during the period. ETRADE Capital Management LLC increased its holdings in shares of Canadian National Railway by 4.5% in the third quarter. ETRADE Capital Management LLC now owns 15,565 shares of the transportation company’s stock worth $1,290,000 after buying an additional 670 shares during the period. Guardian Capital Advisors LP increased its holdings in shares of Canadian National Railway by 0.3% in the third quarter. Guardian Capital Advisors LP now owns 216,729 shares of the transportation company’s stock worth $22,220,000 after buying an additional 675 shares during the period. Atria Investments LLC increased its holdings in shares of Canadian National Railway by 15.3% in the fourth quarter. Atria Investments LLC now owns 5,356 shares of the transportation company’s stock worth $442,000 after buying an additional 710 shares during the period. Finally, Dempze Nancy E increased its holdings in shares of Canadian National Railway by 3.0% in the third quarter. Dempze Nancy E now owns 25,161 shares of the transportation company’s stock worth $2,085,000 after buying an additional 727 shares during the period. Institutional investors and hedge funds own 54.49% of the company’s stock.

Shares of Canadian National Railway (CNI) opened at $76.18 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 0.55 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $56,426.53, a PE ratio of 13.51, a P/E/G ratio of 1.91 and a beta of 1.00. Canadian National Railway has a 12 month low of $69.73 and a 12 month high of $85.73.

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, March 7th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.47 annualized dividend and a dividend yield of 1.92%. Canadian National Railway’s dividend payout ratio (DPR) is presently 23.23%.

Canadian National Railway announced that its board has initiated a stock buyback program on Tuesday, October 24th that allows the company to repurchase 31,000,000 outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

CNI has been the topic of several analyst reports. Zacks Investment Research upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a report on Monday, November 6th. Raymond James Financial downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 25th. Cowen reiterated an “outperform” rating and issued a $90.00 price objective (up previously from $88.00) on shares of Canadian National Railway in a report on Wednesday, January 24th. Desjardins upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Finally, Deutsche Bank initiated coverage on Canadian National Railway in a report on Wednesday, November 1st. They issued a “sell” rating and a $73.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $80.88.

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

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