Canadian National Railway Company (NYSE:CNI) Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. grew its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 121.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,227 shares of the transportation company's stock after purchasing an additional 42,907 shares during the quarter. Bessemer Group Inc.'s holdings in Canadian National Railway were worth $7,621,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of Canadian National Railway by 7.5% during the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock valued at $2,817,616,000 after purchasing an additional 1,934,622 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Canadian National Railway by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 22,986,678 shares of the transportation company's stock valued at $2,334,251,000 after purchasing an additional 101,228 shares in the last quarter. Capital International Investors increased its holdings in shares of Canadian National Railway by 12.8% during the 4th quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock valued at $1,199,680,000 after purchasing an additional 1,341,133 shares in the last quarter. TD Asset Management Inc. increased its holdings in shares of Canadian National Railway by 2.7% during the 4th quarter. TD Asset Management Inc. now owns 11,768,500 shares of the transportation company's stock valued at $1,194,443,000 after purchasing an additional 309,210 shares in the last quarter. Finally, JARISLOWSKY FRASER Ltd increased its holdings in shares of Canadian National Railway by 4.8% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock valued at $926,573,000 after purchasing an additional 422,078 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

CNI traded down $0.54 on Friday, hitting $103.35. 2,783,872 shares of the company's stock were exchanged, compared to its average volume of 1,332,220. Canadian National Railway Company has a fifty-two week low of $91.65 and a fifty-two week high of $123.96. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $102.74 and a 200-day moving average price of $101.50. The stock has a market cap of $64.89 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 1.89 and a beta of 0.98.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. The firm had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $4.38 billion. Canadian National Railway had a net margin of 26.19% and a return on equity of 22.29%. The company's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 EPS. As a group, equities analysts anticipate 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 dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.8875 per share. This is a boost from Canadian National Railway's previous dividend of $0.29. The ex-dividend date of this dividend is Monday, June 9th. This represents a dividend yield of 2.47%. Canadian National Railway's payout ratio is presently 50.49%.

Analyst Ratings Changes

A number of research firms recently issued reports on CNI. Royal Bank Of Canada reissued an "outperform" rating and issued a $163.00 price target on shares of Canadian National Railway in a research note on Thursday, June 5th. Evercore ISI dropped their price target on shares of Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Barclays dropped their price target on shares of Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Raymond James Financial cut shares of Canadian National Railway from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus dropped their price target on shares of Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Canadian National Railway currently has an average rating of "Moderate Buy" and a consensus target price of $120.52.

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.