Addenda Capital Inc. Increases Position in Canadian National Railway Company $CNI

Key Points

• Addenda Capital Inc. increased its stake in Canadian National Railway Company by 8.9%, owning 469,260 shares valued at approximately $48.8 million.
• Canadian National Railway's recent quarterly earnings showed a decline, reporting an EPS of $1.35, missing estimates by $0.02, and year-over-year revenue decreased by 1.3%.
• The company has increased its quarterly dividend to $0.6507, which reflects an annual yield of 2.8% and a payout ratio of 50.19%.

Addenda Capital Inc. raised its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 8.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 469,260 shares of the transportation company's stock after buying an additional 38,292 shares during the period. Canadian National Railway comprises approximately 2.2% of Addenda Capital Inc.'s investment portfolio, making the stock its 13th biggest position. Addenda Capital Inc. owned 0.07% of Canadian National Railway worth $48,822,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CNI. Ausbil Investment Management Ltd acquired a new position in shares of Canadian National Railway during the second quarter worth $3,809,000. Signaturefd LLC boosted its holdings in Canadian National Railway by 34.9% in the second quarter. Signaturefd LLC now owns 10,327 shares of the transportation company's stock valued at $1,074,000 after purchasing an additional 2,670 shares during the last quarter. Kathmere Capital Management LLC boosted its holdings in Canadian National Railway by 211.4% in the second quarter. Kathmere Capital Management LLC now owns 14,142 shares of the transportation company's stock valued at $1,471,000 after purchasing an additional 9,600 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of Canadian National Railway in the second quarter worth about $7,254,000. Finally, Littlejohn Financial Services Inc. acquired a new position in shares of Canadian National Railway in the second quarter worth about $2,005,000. Institutional investors own 80.74% of the company's stock.

Wall Street Analyst Weigh In

CNI has been the subject of a number of analyst reports. National Bank Financial downgraded shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reduced their price target on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Susquehanna reduced their price target on shares of Canadian National Railway from $120.00 to $115.00 and set a "positive" rating for the company in a research report on Thursday. Raymond James Financial upgraded shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Finally, Barclays cut 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 analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $117.94.

Canadian National Railway Price Performance

Shares of CNI opened at $92.84 on Friday. Canadian National Railway Company has a twelve month low of $91.07 and a twelve month high of $118.14. The firm's fifty day simple moving average is $94.64 and its 200-day simple moving average is $99.12. The firm has a market capitalization of $57.64 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 2.14 and a beta of 0.94. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90.

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 the consensus estimate 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 company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the prior year, the business earned $1.84 earnings per share. Canadian National Railway's revenue was down 1.3% compared to the same quarter last year. Equities analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be issued a $0.6507 dividend. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change 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 presently 50.19%.

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.

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