Corient IA LLC Takes $633,000 Position in Canadian National Railway Company $CNI

Key Points

• Corient IA LLC acquired 6,500 shares of Canadian National Railway Company, valued at approximately $633,000, marking a new position for the firm in the 1st quarter.
• Canadian National Railway recently increased its quarterly dividend from $0.62 to $0.6507, resulting in an annualized dividend of $2.60 and a yield of 2.8%.
• Despite reporting a miss in quarterly earnings per share and a revenue decline, the company's market cap remains at $58.26 billion, with an average target price of $118.36 according to analysts.

Corient IA LLC purchased a new stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,500 shares of the transportation company's stock, valued at approximately $633,000.

A number of other large investors have also made changes to their positions in CNI. Townsquare Capital LLC grew its position in Canadian National Railway by 89.5% in the fourth quarter. Townsquare Capital LLC now owns 3,883 shares of the transportation company's stock worth $394,000 after acquiring an additional 1,834 shares during the period. NewEdge Advisors LLC grew its position in Canadian National Railway by 55.8% in the fourth quarter. NewEdge Advisors LLC now owns 5,296 shares of the transportation company's stock worth $538,000 after acquiring an additional 1,896 shares during the period. Marshall Wace LLP grew its position in Canadian National Railway by 14.0% in the fourth quarter. Marshall Wace LLP now owns 83,138 shares of the transportation company's stock worth $8,439,000 after acquiring an additional 10,212 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Canadian National Railway by 8.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 388,585 shares of the transportation company's stock worth $39,265,000 after acquiring an additional 31,157 shares during the period. Finally, Capital International Sarl grew its position in Canadian National Railway by 4.6% in the fourth quarter. Capital International Sarl now owns 78,571 shares of the transportation company's stock worth $7,975,000 after acquiring an additional 3,425 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNI. Evercore ISI lowered Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price objective for the company. in a research report on Wednesday, July 23rd. Susquehanna lowered their price objective on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Canadian National Railway in a research report on Wednesday, July 23rd. Citigroup lowered their price objective on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada decreased their price target on Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Canadian National Railway has an average rating of "Hold" and an average target price of $118.36.

Canadian National Railway Trading Down 0.5%

NYSE:CNI traded down $0.4970 during trading hours on Wednesday, reaching $93.8530. 1,389,810 shares of the stock were exchanged, compared to its average volume of 1,500,821. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average of $99.67 and a two-hundred day moving average of $100.35. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $121.12. The company has a market capitalization of $58.59 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.07 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released 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 return on equity of 21.71% and a net margin of 26.63%.The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter last year, the company earned $1.84 earnings per share. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, September 8th. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. Canadian National Railway's payout ratio is 50.19%.

Canadian National Railway 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.