Baskin Financial Services Inc. Has $961,000 Position in Canadian National Railway (CNI)

Baskin Financial Services Inc. raised its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 6.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 10,722 shares of the transportation company’s stock after purchasing an additional 650 shares during the period. Baskin Financial Services Inc.’s holdings in Canadian National Railway were worth $961,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Nova Scotia increased its position in shares of Canadian National Railway by 4.5% in the 2nd quarter. Bank of Nova Scotia now owns 2,741,220 shares of the transportation company’s stock worth $223,356,000 after purchasing an additional 117,340 shares during the last quarter. Douglass Winthrop Advisors LLC increased its position in shares of Canadian National Railway by 1.5% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 568,985 shares of the transportation company’s stock worth $51,095,000 after purchasing an additional 8,683 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of Canadian National Railway by 259.6% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 238,557 shares of the transportation company’s stock worth $19,513,000 after purchasing an additional 172,221 shares during the last quarter. Bridgewater Associates LP increased its position in shares of Canadian National Railway by 271.9% in the 2nd quarter. Bridgewater Associates LP now owns 301,682 shares of the transportation company’s stock worth $24,661,000 after purchasing an additional 220,570 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Canadian National Railway by 108.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 31,279 shares of the transportation company’s stock worth $1,999,000 after purchasing an additional 16,239 shares during the last quarter. 53.99% of the stock is owned by institutional investors.

Shares of NYSE CNI traded down $1.62 during midday trading on Thursday, hitting $83.45. The company’s stock had a trading volume of 114,389 shares, compared to its average volume of 1,235,928. Canadian National Railway has a 1-year low of $70.59 and a 1-year high of $91.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.52 and a current ratio of 0.64. The firm has a market capitalization of $65.79 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 2.26 and a beta of 1.03.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, July 24th. The transportation company reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.46. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.57 billion. Canadian National Railway had a net margin of 42.08% and a return on equity of 22.90%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 EPS. Equities analysts forecast that Canadian National Railway will post 4.26 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 7th were paid a dividend of $0.3429 per share. This represents a $1.37 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, September 6th. Canadian National Railway’s payout ratio is 35.94%.

CNI has been the subject of several research analyst reports. Zacks Investment Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research report on Monday, July 30th. BMO Capital Markets downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Cowen reaffirmed a “buy” rating and issued a $98.00 price target on shares of Canadian National Railway in a report on Wednesday, July 25th. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Tuesday, September 25th. Finally, Loop Capital reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 25th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Canadian National Railway has a consensus rating of “Hold” and an average price target of $91.98.

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.

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

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