Canadian National Railway Company $CNI Shares Sold by Burgundy Asset Management Ltd.

Key Points

• Burgundy Asset Management Ltd. has reduced its stake in Canadian National Railway Company by 1.1%, now holding approximately 0.11% of the company, valued at $69.34 million.
• Several institutional investors have recently increased their positions in Canadian National Railway, with Townsquare Capital LLC increasing their stake by 89.5% in the fourth quarter.
• Canadian National Railway announced a quarterly dividend increase to $0.6507, reflecting a dividend yield of 2.8% and a payout ratio of 50.19%.

Burgundy Asset Management Ltd. cut its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 711,819 shares of the transportation company's stock after selling 8,169 shares during the period. Burgundy Asset Management Ltd. owned about 0.11% of Canadian National Railway worth $69,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CNI. Dagco Inc. acquired a new stake in Canadian National Railway in the first quarter valued at $32,000. Bruce G. Allen Investments LLC raised its stake in Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after buying an additional 106 shares in the last quarter. CX Institutional acquired a new stake in Canadian National Railway in the first quarter valued at $39,000. Dunhill Financial LLC raised its stake in Canadian National Railway by 1,020.0% in the fourth quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock valued at $57,000 after buying an additional 510 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Canadian National Railway by 31.3% during the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after purchasing an additional 171 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James Financial upgraded Canadian National Railway from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 17th. Citigroup lowered their price objective 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. Barclays reduced their price target on shares of 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. Stephens upped their price objective on shares of Canadian National Railway from $105.00 to $109.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of "Hold" and a consensus target price of $118.36.

Canadian National Railway Stock Up 2.5%

Shares of Canadian National Railway stock traded up $2.3470 during trading on Friday, reaching $96.3770. The company had a trading volume of 1,274,656 shares, compared to its average volume of 1,495,964. The company has a market cap of $60.17 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 2.09 and a beta of 0.94. The firm's fifty day moving average is $99.24 and its 200-day moving average is $100.27. 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 Company has a fifty-two week low of $91.65 and a fifty-two week high of $121.12.

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

Canadian National Railway Increases Dividend

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

About Canadian National Railway

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.