1832 Asset Management L.P. Has $1.10 Billion Holdings in Canadian National Railway Company $CNI

Key Points

• 1832 Asset Management L.P. increased its stake in Canadian National Railway Company by 6.0%, acquiring an additional 636,147 shares and bringing its total holdings to over 11 million shares, making CNI its 7th largest investment.
• Canadian National Railway announced a dividend increase to $0.6507 per share, reflecting an annual yield of 2.8% as of the recent quarter.
• Wall Street analysts have varying opinions on CNI, with a consensus "Hold" rating and an average price target of $118.36, indicating mixed expectations for the stock's performance.

1832 Asset Management L.P. boosted its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 6.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,243,512 shares of the transportation company's stock after buying an additional 636,147 shares during the period. Canadian National Railway makes up about 1.0% of 1832 Asset Management L.P.'s portfolio, making the stock its 7th largest position. 1832 Asset Management L.P. owned approximately 1.79% of Canadian National Railway worth $1,095,793,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dagco Inc. purchased a new stake in shares of Canadian National Railway in the first quarter valued at about $32,000. Bruce G. Allen Investments LLC raised its holdings in shares of Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. CX Institutional purchased a new stake in shares of Canadian National Railway in the first quarter valued at about $39,000. Brooklyn Investment Group raised its holdings in shares of Canadian National Railway by 354.3% in the first quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock valued at $42,000 after purchasing an additional 333 shares during the last quarter. Finally, Dunhill Financial LLC raised its holdings in shares of Canadian National Railway by 1,020.0% in the fourth quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock valued at $57,000 after purchasing an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Performance

NYSE:CNI traded up $1.8350 on Friday, reaching $95.8650. 2,047,408 shares of the company's stock were exchanged, compared to its average volume of 1,676,672. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The firm has a market cap of $59.85 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 2.14 and a beta of 0.94. Canadian National Railway Company has a 52 week low of $91.65 and a 52 week high of $121.12. The stock has a fifty day simple moving average of $99.08 and a 200-day simple moving average of $100.18.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.Canadian National Railway's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 EPS. As a group, sell-side analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be given a $0.6507 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase 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 (DPR) is 49.81%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Susquehanna lowered their target price on shares of Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Royal Bank Of Canada lowered their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Argus upgraded shares of Canadian National Railway to a "hold" rating in a report on Friday, June 27th. Citigroup decreased their price objective on shares of Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Finally, Barclays decreased their price objective on shares of Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $118.36.

Canadian National Railway Company Profile

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.