HighPoint Advisor Group LLC grew its position in Canadian National Railway Company (NYSE:CNI – Free Report) (TSE:CNR) by 19.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,900 shares of the transportation company’s stock after purchasing an additional 471 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Canadian National Railway were worth $280,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in CNI. Norges Bank acquired a new stake in Canadian National Railway in the 4th quarter worth about $563,048,000. Royal Bank of Canada grew its position in Canadian National Railway by 7.5% during the fourth quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company’s stock worth $2,817,616,000 after buying an additional 1,934,622 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Canadian National Railway by 33.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company’s stock worth $557,278,000 after buying an additional 1,380,554 shares in the last quarter. Capital International Investors grew its position in Canadian National Railway by 12.8% during the fourth quarter. Capital International Investors now owns 11,822,063 shares of the transportation company’s stock worth $1,199,680,000 after buying an additional 1,341,133 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Canadian National Railway by 29.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company’s stock worth $488,488,000 after buying an additional 1,102,977 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on CNI shares. Stifel Nicolaus reduced their price target on Canadian National Railway from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Royal Bank Of Canada reduced their price target on Canadian National Railway from $161.00 to $157.00 and set an “outperform” rating on the stock in a research report on Wednesday. Stephens increased their price target on Canadian National Railway from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Raymond James Financial raised Canadian National Railway from a “market perform” rating to an “outperform” rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group reduced their target price on Canadian National Railway from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $118.36.
Get Our Latest Analysis on CNI
Canadian National Railway Stock Down 0.8%
Shares of CNI opened at $95.51 on Friday. Canadian National Railway Company has a 52 week low of $91.65 and a 52 week high of $121.12. The stock has a market capitalization of $59.83 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.43 and a current ratio of 0.82. The stock has a fifty day moving average of $103.97 and a 200-day moving average of $101.55.
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last announced its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.
Canadian National Railway Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be paid a $0.6507 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.73%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 8th. Canadian National Railway’s dividend payout ratio is presently 50.49%.
About Canadian National Railway
(Free Report)
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.
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