Amundi Raises Stock Holdings in Canadian National Railway Company $CNI

Key Points

• Amundi increased its stake in Canadian National Railway by 47.8%, owning approximately 1,337,919 shares worth $130.39 million as of its latest SEC filing.
• Several hedge funds, including Polar Asset Management Partners, have also significantly increased their holdings in the company, reflecting a growing institutional interest.
• Despite a quarterly earnings report that missed expectations, Canadian National Railway recently increased its dividend to $0.6507 per share, marking a rise from the previous rate of $0.62.

Amundi raised its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 47.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,337,919 shares of the transportation company's stock after acquiring an additional 432,860 shares during the period. Amundi owned approximately 0.21% of Canadian National Railway worth $130,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Polar Asset Management Partners Inc. raised its holdings in shares of Canadian National Railway by 233.3% during the 4th quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company's stock worth $2,537,000 after acquiring an additional 17,500 shares in the last quarter. Cypress Asset Management Inc. TX purchased a new stake in Canadian National Railway during the 4th quarter valued at $875,000. GAMMA Investing LLC lifted its position in Canadian National Railway by 31.3% in the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after buying an additional 171 shares during the last quarter. Principal Financial Group Inc. lifted its position in Canadian National Railway by 3.7% in the first quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company's stock worth $9,185,000 after buying an additional 3,400 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Canadian National Railway by 60.6% in the first 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 last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada lowered their price target on 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. Wall Street Zen upgraded Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Barclays lowered their price target on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 23rd. Finally, Citigroup lowered their price target 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. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $118.36.

Canadian National Railway Stock Performance

CNI stock opened at $96.56 on Friday. 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's fifty day simple moving average is $97.88 and its two-hundred day simple moving average is $99.82. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $121.12. The firm has a market cap of $60.28 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 2.15 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released 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 during the quarter, compared to analysts' expectations 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 business earned $1.84 EPS. 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.6507 per share. 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 2.7%. The ex-dividend date is Monday, September 8th. Canadian National Railway's payout ratio is 49.81%.

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.

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