Ausbil Investment Management Ltd Invests $3.81 Million in Canadian National Railway Company $CNI

Key Points

• Ausbil Investment Management Ltd invested approximately $3.81 million in Canadian National Railway Company, acquiring 36,632 shares during the second quarter of the year.
• Canadian National Railway recently announced a quarterly dividend increase to $0.6507, representing a yield of 2.8% and an annualized payout of $2.60.
• The company's stock performance saw a miss in earnings with $1.35 EPS reported, falling short of analysts' expectations of $1.37, while revenue was also down year-over-year.

Ausbil Investment Management Ltd acquired a new position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 36,632 shares of the transportation company's stock, valued at approximately $3,809,000. Canadian National Railway makes up about 2.2% of Ausbil Investment Management Ltd's portfolio, making the stock its 19th largest position.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Canadian National Railway by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 23,165,939 shares of the transportation company's stock worth $2,254,370,000 after acquiring an additional 179,261 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Canadian National Railway by 0.3% during the 1st quarter. TD Asset Management Inc now owns 11,798,566 shares of the transportation company's stock worth $1,148,008,000 after acquiring an additional 30,066 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Canadian National Railway by 6.0% during the 1st quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company's stock worth $1,095,793,000 after acquiring an additional 636,147 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Canadian National Railway by 6.3% during the 1st quarter. Mackenzie Financial Corp now owns 8,571,806 shares of the transportation company's stock worth $834,129,000 after acquiring an additional 505,588 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Canadian National Railway by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company's stock valued at $646,983,000 after buying an additional 1,148,569 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

CNI stock opened at $92.84 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 $94.64 and its two-hundred day simple moving average is $99.12. Canadian National Railway Company has a twelve month low of $91.07 and a twelve month high of $118.14. The firm has a market cap of $57.64 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 2.14 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). Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The business had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $4.34 billion. During the same quarter in the previous year, the business earned $1.84 EPS. The business's revenue for the quarter was down 1.3% on a year-over-year basis. Analysts predict 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be paid a $0.6507 dividend. The ex-dividend date 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 dividend on an annualized basis and a yield of 2.8%. Canadian National Railway's payout ratio is 50.19%.

Analyst Ratings Changes

CNI has been the topic of several recent research reports. Raymond James Financial upgraded Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. restated a "neutral" rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. Susquehanna decreased their price target on Canadian National Railway from $120.00 to $115.00 and set a "positive" rating on the stock in a report on Thursday. Royal Bank Of Canada decreased their price target on Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Finally, Citigroup decreased their price target on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Canadian National Railway currently has an average rating of "Hold" and an average price target of $117.94.

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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