Canadian National Railway Company $CNI Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Canadian National Railway Company by 5.4%, now holding 155,841 shares valued at $15.17 million.
• Several hedge funds have also significantly raised their holdings in Canadian National Railway, with notable increases from Vestmark Advisory Solutions Inc. and Gulf International Bank UK Ltd.
• Canadian National Railway recently announced a dividend increase, raising the quarterly payout from $0.62 to $0.6507, yielding approximately 2.7%.

American Century Companies Inc. raised its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,841 shares of the transportation company's stock after buying an additional 7,963 shares during the quarter. American Century Companies Inc.'s holdings in Canadian National Railway were worth $15,166,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Polar Asset Management Partners Inc. boosted its holdings in shares of Canadian National Railway by 233.3% in the 4th quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company's stock worth $2,537,000 after purchasing an additional 17,500 shares during the period. Cypress Asset Management Inc. TX purchased a new position in Canadian National Railway during the 4th quarter valued at $875,000. GAMMA Investing LLC grew its stake in Canadian National Railway by 31.3% in the 1st 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. Principal Financial Group Inc. grew its stake in Canadian National Railway by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company's stock worth $9,185,000 after acquiring an additional 3,400 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Canadian National Railway by 60.6% in the 1st quarter. SG Americas Securities LLC now owns 9,729 shares of the transportation company's stock worth $948,000 after buying an additional 3,671 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Trading Up 0.7%

NYSE:CNI traded up $0.70 on Friday, reaching $96.80. The company's stock had a trading volume of 450,905 shares, compared to its average volume of 1,504,771. Canadian National Railway Company has a 12-month low of $91.65 and a 12-month high of $121.12. 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 firm has a market cap of $60.43 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.16 and a beta of 0.94. The stock has a 50 day moving average price of $98.57 and a 200 day moving average price of $100.05.

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

Canadian National Railway Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.7%. 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 payout ratio is 50.19%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. National Bank Financial cut Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 23rd. Citigroup decreased their target price on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. Barclays decreased their target price on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen upgraded Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Bank of America raised their target price on Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price 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.