Canadian National Railway Company $CNI Shares Acquired by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in Canadian National Railway by 3.5%, now owning approximately 0.08% of the company worth $51.8 million.
• The company recently announced a quarterly dividend increase to $0.6507 per share, representing a 2.7% dividend yield.
• Analyst ratings are mixed, with CNI holding an average rating of "Hold" and a target price of $118.36 amid recent performance evaluations.

Ameriprise Financial Inc. grew its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 3.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 526,824 shares of the transportation company's stock after purchasing an additional 17,682 shares during the period. Ameriprise Financial Inc. owned approximately 0.08% of Canadian National Railway worth $51,823,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dagco Inc. acquired a new position in shares of Canadian National Railway in the first quarter valued at about $32,000. Bruce G. Allen Investments LLC boosted its stake in shares of 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 worth $34,000 after buying an additional 106 shares during the last quarter. CX Institutional purchased a new stake in shares of Canadian National Railway in the first quarter worth about $39,000. Brooklyn Investment Group boosted its stake in shares of Canadian National Railway by 354.3% in the first quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock worth $42,000 after buying an additional 333 shares during the last quarter. Finally, Dunhill Financial LLC boosted its stake in shares of Canadian National Railway by 1,020.0% in the fourth quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock worth $57,000 after buying an additional 510 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Down 0.1%

NYSE CNI traded down $0.09 during trading on Tuesday, reaching $96.69. 1,086,112 shares of the company's stock were exchanged, compared to its average volume of 1,580,166. The stock has a market cap of $60.36 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 2.15 and a beta of 0.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. The company has a 50 day moving average price of $98.25 and a two-hundred day moving average price of $99.91. Canadian National Railway Company has a 1 year low of $91.65 and a 1 year high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 EPS. On average, equities research analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal 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 given a dividend of $0.6507 per share. The ex-dividend date is Monday, September 8th. This is an increase 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 2.7%. Canadian National Railway's dividend payout ratio (DPR) is presently 49.81%.

Analysts Set New Price Targets

CNI has been the topic of a number of recent research reports. Argus upgraded Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. restated a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Wells Fargo & Company lowered their target price on Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. National Bank Financial downgraded Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, Bank of America increased their price target on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average 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.