Canadian National Railway Company (NYSE:CNI) Shares Sold by Swiss National Bank

Key Points

• Swiss National Bank reduced its holdings in Canadian National Railway by 2.1%, now owning 1,521,100 shares valued at approximately $148.1 million.
• Canadian National Railway announced a quarterly dividend increase to $0.6507 per share, up from $0.62, with an annualized yield of 2.8%.
• The company reported a quarterly EPS of $1.35, falling short of analyst estimates of $1.37 and marking a year-over-year revenue decline of 1.3%.

Swiss National Bank decreased its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,521,100 shares of the transportation company's stock after selling 32,100 shares during the quarter. Swiss National Bank owned 0.24% of Canadian National Railway worth $148,133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CNI. Invesco Ltd. boosted its stake in shares of Canadian National Railway by 4.0% in the fourth quarter. Invesco Ltd. now owns 523,944 shares of the transportation company's stock valued at $53,186,000 after purchasing an additional 20,249 shares during the period. Renaissance Technologies LLC lifted its stake in Canadian National Railway by 501.2% in the fourth quarter. Renaissance Technologies LLC now owns 352,900 shares of the transportation company's stock worth $35,823,000 after acquiring an additional 294,200 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Canadian National Railway in the fourth quarter worth approximately $28,022,000. Act Two Investors LLC lifted its stake in Canadian National Railway by 262.6% in the fourth quarter. Act Two Investors LLC now owns 119,719 shares of the transportation company's stock worth $12,153,000 after acquiring an additional 86,699 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in Canadian National Railway by 2.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 145,209 shares of the transportation company's stock valued at $14,745,000 after buying an additional 2,842 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Price Performance

Shares of NYSE:CNI traded up $0.66 on Tuesday, reaching $93.90. 1,365,170 shares of the company were exchanged, compared to its average volume of 1,482,613. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 1-year low of $91.65 and a 1-year high of $121.12. The firm has a market cap of $58.83 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. The company has a 50-day moving average of $101.09 and a 200-day moving average of $100.81.

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). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $4.34 billion. During the same period last year, the business posted $1.84 earnings per share. The company's quarterly revenue was down 1.3% on a year-over-year basis. Equities analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently announced 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 represents a $2.60 dividend on an annualized basis and a yield of 2.8%. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, September 8th. Canadian National Railway's dividend payout ratio is 49.81%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. Evercore ISI lowered Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 target price on the stock. in a report on Wednesday, July 23rd. Stifel Nicolaus dropped their target price on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Barclays dropped their target price on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Finally, Raymond James Financial upgraded shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $118.36.

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.