Canada Pension Plan Investment Board Has $278.24 Million Stock Holdings in Canadian National Railway Company $CNI

Key Points

• The Canada Pension Plan Investment Board has increased its stake in Canadian National Railway Company by 34.8%, now owning approximately 0.45% of the company, valued at about $278.2 million.
• Canadian National Railway's stock performance shows a current price of $96.06, with a 52-week range of $91.65 to $121.12, and a market capitalization of $59.97 billion.
• The company recently announced an increase in its quarterly dividend to $0.6507 per share, reflecting a positive adjustment from the previous quarterly dividend of $0.62.

Canada Pension Plan Investment Board lifted its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 34.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,858,739 shares of the transportation company's stock after buying an additional 737,879 shares during the period. Canada Pension Plan Investment Board owned approximately 0.45% of Canadian National Railway worth $278,242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Canadian National Railway by 7.5% in the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock worth $2,817,616,000 after acquiring an additional 1,934,622 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Canadian National Railway by 0.8% in 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 during the last quarter. TD Asset Management Inc grew its holdings in shares of Canadian National Railway by 0.3% in 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 during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Canadian National Railway by 6.0% in 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 during the last quarter. Finally, JARISLOWSKY FRASER Ltd grew its holdings in shares of Canadian National Railway by 4.8% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock worth $926,573,000 after acquiring an additional 422,078 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CNI. Bank of America lifted their price target on Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Susquehanna lowered their price target on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Barclays lowered their target price on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Raymond James Financial upgraded Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen upgraded Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $118.36.

Canadian National Railway Stock Up 0.1%

Shares of NYSE:CNI traded up $0.11 on Wednesday, reaching $96.74. The company had a trading volume of 471,318 shares, compared to its average volume of 1,499,241. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $121.12. The stock has a 50-day moving average price of $98.25 and a 200 day moving average price of $99.91. The stock has a market capitalization of $60.39 billion, a P/E ratio of 18.59, a P/E/G ratio of 2.15 and a beta of 0.94. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the firm posted $1.84 EPS. Canadian National Railway's revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, September 8th. This represents a $2.60 annualized dividend and a dividend yield of 2.7%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's dividend payout ratio is currently 49.81%.

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.