APG Asset Management N.V. Reduces Position in Canadian National Railway Company $CNI

Key Points

• APG Asset Management N.V. reduced its stake in Canadian National Railway Company by 3.5%, selling 13,600 shares to hold a total of 372,100 shares valued at approximately $33.5 million.
• In their most recent financial reports, Canadian National Railway missed earnings expectations, reporting $1.35 EPS compared to the consensus estimate of $1.37 EPS, with quarterly revenue also falling short at $3.14 billion.
• The company declared a quarterly dividend increase to $0.6507 per share, marking a rise from the previous dividend of $0.62, with a current annualized dividend yield of 2.7%.

APG Asset Management N.V. reduced its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 372,100 shares of the transportation company's stock after selling 13,600 shares during the period. APG Asset Management N.V. owned about 0.06% of Canadian National Railway worth $33,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Canadian National Railway by 16.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 19,523 shares of the transportation company's stock valued at $1,903,000 after purchasing an additional 2,801 shares in the last quarter. Douglass Winthrop Advisors LLC grew its position in shares of Canadian National Railway by 1.8% in the first quarter. Douglass Winthrop Advisors LLC now owns 1,054,591 shares of the transportation company's stock valued at $102,780,000 after purchasing an additional 18,523 shares during the period. 1832 Asset Management L.P. grew its position in shares of Canadian National Railway by 6.0% in the first quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company's stock valued at $1,095,793,000 after purchasing an additional 636,147 shares during the period. Ameriprise Financial Inc. grew its position in shares of Canadian National Railway by 3.5% in the first quarter. Ameriprise Financial Inc. now owns 526,824 shares of the transportation company's stock valued at $51,823,000 after purchasing an additional 17,682 shares during the period. Finally, CW Advisors LLC grew its position in shares of Canadian National Railway by 10.2% in the first quarter. CW Advisors LLC now owns 7,678 shares of the transportation company's stock valued at $749,000 after purchasing an additional 708 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 1.2%

Shares of Canadian National Railway stock traded down $1.19 on Thursday, reaching $96.06. The company had a trading volume of 2,220,618 shares, compared to its average volume of 1,511,063. The firm's 50 day moving average price is $98.68 and its two-hundred day moving average price is $100.09. The firm has a market cap of $59.97 billion, a PE ratio of 18.47, a PEG ratio of 2.15 and a beta of 0.94. Canadian National Railway Company has a 52-week low of $91.65 and a 52-week high of $121.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The company had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. Canadian National Railway's revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share. Sell-side analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be issued a $0.6507 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is presently 49.81%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. National Bank Financial lowered shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 23rd. Barclays lowered their price target on shares of 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. Raymond James Financial upgraded shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 17th. Argus upgraded shares of Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Finally, Citigroup lowered their price target on shares of 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. Two research 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 assigned a Sell rating to the stock. According to data from MarketBeat, Canadian National Railway presently has an average rating of "Hold" and an average price target 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.