Canadian National Railway Company $CNI is Canoe Financial LP's 3rd Largest Position

Key Points

• Canoe Financial LP increased its stake in Canadian National Railway by 7.4%, making it the fund's third largest holding, as it now owns approximately $272 million worth of shares.
• Canadian National Railway's recently declared quarterly dividend has been boosted to $0.6507 per share, up from the previous $0.62, representing a 2.8% dividend yield.
• The company recorded a Q2 earnings per share of $1.35, which was below the analyst's estimate of $1.37, along with a revenue of $3.14 billion for the quarter.

Canoe Financial LP grew its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,612,255 shares of the transportation company's stock after buying an additional 180,594 shares during the period. Canadian National Railway makes up 3.9% of Canoe Financial LP's portfolio, making the stock its 3rd biggest position. Canoe Financial LP owned approximately 0.42% of Canadian National Railway worth $272,313,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNI. Squarepoint Ops LLC lifted its holdings in shares of Canadian National Railway by 320.8% during the 4th quarter. Squarepoint Ops LLC now owns 24,492 shares of the transportation company's stock valued at $2,486,000 after purchasing an additional 18,671 shares in the last quarter. Novem Group acquired a new stake in Canadian National Railway in the 4th quarter valued at approximately $811,000. Vise Technologies Inc. raised its position in Canadian National Railway by 9.5% in the 4th quarter. Vise Technologies Inc. now owns 5,390 shares of the transportation company's stock valued at $547,000 after buying an additional 468 shares during the last quarter. Burgundy Asset Management Ltd. increased its position in shares of Canadian National Railway by 51.9% during the 4th quarter. Burgundy Asset Management Ltd. now owns 719,988 shares of the transportation company's stock worth $73,040,000 after purchasing an additional 246,151 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Canadian National Railway by 8.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 370,310 shares of the transportation company's stock worth $37,590,000 after purchasing an additional 28,904 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock traded down $0.06 during trading on Tuesday, hitting $91.95. 319,789 shares of the stock traded hands, compared to its average volume of 1,538,875. The firm's fifty day moving average is $95.40 and its 200-day moving average is $99.26. 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 Company has a 52 week low of $91.07 and a 52 week high of $118.46. The stock has a market cap of $57.08 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 2.15 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) 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 company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the business earned $1.84 earnings per share. Canadian National Railway's revenue was down 1.3% compared to the same quarter last year. Research analysts expect that Canadian National Railway Company will post 5.52 EPS 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. Shareholders of record on Monday, September 8th will be issued a $0.6507 dividend. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 8th. This represents a $2.60 annualized dividend and a yield of 2.8%. Canadian National Railway's dividend payout ratio (DPR) is 50.19%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Raymond James Financial raised Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Argus upgraded Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Wall Street Zen upgraded Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Susquehanna dropped their target price on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Finally, National Bank Financial downgraded Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 23rd. Two investment 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.