Alberta Investment Management Corp Grows Holdings in Canadian National Railway Company (NYSE:CNI)

Key Points

• Alberta Investment Management Corp increased its stake in Canadian National Railway by 4.3%, owning approximately $120.6 million worth of the company's stock.
• Canadian National Railway recently announced a quarterly dividend of $0.6507 per share, which marks an increase from the previous dividend of $0.62.
• In its latest earnings report, Canadian National Railway missed earnings estimates, reporting $1.35 EPS against a consensus estimate of $1.37, with a revenue decline of 1.3% year-over-year.

Alberta Investment Management Corp raised its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,239,813 shares of the transportation company's stock after buying an additional 51,511 shares during the period. Canadian National Railway accounts for about 0.8% of Alberta Investment Management Corp's portfolio, making the stock its 19th largest holding. Alberta Investment Management Corp owned about 0.20% of Canadian National Railway worth $120,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC lifted its holdings in shares of Canadian National Railway by 44.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock worth $34,000 after acquiring an additional 106 shares during the period. CX Institutional acquired a new stake in shares of Canadian National Railway during the first quarter worth $39,000. Dunhill Financial LLC increased its position in shares of Canadian National Railway by 1,020.0% during the fourth quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock worth $57,000 after buying an additional 510 shares during the period. GAMMA Investing LLC boosted its stake in Canadian National Railway by 31.3% during the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after acquiring an additional 171 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its stake in Canadian National Railway by 57.8% in the first quarter. Creative Financial Designs Inc. ADV now owns 819 shares of the transportation company's stock valued at $80,000 after purchasing an additional 300 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CNI. Susquehanna dropped their price objective on shares of Canadian National Railway from $122.00 to $120.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Evercore ISI lowered shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price objective on the stock. in a research note on Wednesday, July 23rd. Jefferies Financial Group dropped their price objective on shares of Canadian National Railway from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Stephens increased their target price on shares of Canadian National Railway from $105.00 to $109.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, 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. Two equities 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $118.36.

Canadian National Railway Stock Up 0.5%

Shares of NYSE:CNI traded up $0.50 during midday trading on Tuesday, reaching $94.22. The company's stock had a trading volume of 1,079,639 shares, compared to its average volume of 1,484,864. The firm has a 50 day moving average of $102.26 and a 200-day moving average of $101.19. The firm has a market capitalization of $59.03 billion, a P/E ratio of 18.11, a PEG ratio of 2.07 and a beta of 0.94. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 12-month low of $91.65 and a 12-month high of $121.12.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The firm had revenue of $3.14 billion during 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%. The business's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.84 EPS. On average, research analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be given a dividend of $0.6507 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 8th. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's payout ratio is currently 49.81%.

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.