Federation des caisses Desjardins du Quebec Buys 488,245 Shares of Canadian National Railway Company $CNI

Key Points

• Federation des caisses Desjardins du Quebec increased its holdings in Canadian National Railway by 19.5% in the first quarter, bringing its total to approximately 2,990,341 shares.
• Canadian National Railway recently announced a quarterly dividend increase to $0.6507 per share, reflecting a 2.7% yield for investors.
• The company reported a net margin of 26.63% but missed analysts' earnings estimates with an EPS of $1.35 for the most recent quarter.

Federation des caisses Desjardins du Quebec grew its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 19.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,990,341 shares of the transportation company's stock after purchasing an additional 488,245 shares during the quarter. Canadian National Railway comprises about 1.4% of Federation des caisses Desjardins du Quebec's portfolio, making the stock its 18th biggest holding. Federation des caisses Desjardins du Quebec owned about 0.48% of Canadian National Railway worth $290,029,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada lifted its position 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 acquiring an additional 1,934,622 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Canadian National Railway by 37.3% during the first quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company's stock valued at $518,260,000 after purchasing an additional 1,439,617 shares during the period. Nuveen LLC bought a new position in Canadian National Railway in the first quarter worth approximately $112,216,000. Price T Rowe Associates Inc. MD boosted its holdings in Canadian National Railway by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company's stock worth $646,983,000 after acquiring an additional 1,148,569 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Canadian National Railway by 34.8% in the first quarter. Canada Pension Plan Investment Board now owns 2,858,739 shares of the transportation company's stock worth $278,242,000 after acquiring an additional 737,879 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada dropped their target price on Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Argus upgraded Canadian National Railway to a "hold" rating in a research note 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. Bank of America upped their price objective on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Raymond James Financial upgraded Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $118.36.

Canadian National Railway Stock Down 0.2%

Shares of Canadian National Railway stock traded down $0.18 on Friday, reaching $96.56. The company's stock had a trading volume of 3,264,868 shares, compared to its average volume of 1,629,676. The company has a market capitalization of $60.28 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 2.15 and a beta of 0.94. The firm's fifty day simple moving average is $97.88 and its two-hundred day simple moving average is $99.82. Canadian National Railway Company has a 52 week low of $91.65 and a 52 week high of $121.12. 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 issued its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The business's revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 EPS. 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 quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.6507 per share. The ex-dividend date is Monday, September 8th. This represents a $2.60 annualized dividend and a yield of 2.7%. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's dividend payout ratio (DPR) is 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.