Canadian National Railway Company (NYSE:CNI) Stake Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Canadian National Railway by 63.5%, owning 407,861 shares worth approximately $39.7 million.
• Royal Bank of Canada and other institutional investors also boosted their holdings, suggesting strong confidence in the transportation company's future performance.
• Despite an increase in the quarterly dividend to $0.6507, Canadian National Railway missed earnings estimates with a reported $1.35 EPS, below the anticipated $1.37 EPS.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 63.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 407,861 shares of the transportation company's stock after purchasing an additional 158,335 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Canadian National Railway worth $39,685,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CNI. American Century Companies Inc. boosted its position in Canadian National Railway by 6.7% during the 4th quarter. American Century Companies Inc. now owns 147,878 shares of the transportation company's stock worth $15,017,000 after purchasing an additional 9,340 shares during the period. Financial Counselors Inc. boosted its position in Canadian National Railway by 27.8% in the 4th quarter. Financial Counselors Inc. now owns 2,301 shares of the transportation company's stock valued at $234,000 after buying an additional 501 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Canadian National Railway by 10.1% in the 4th quarter. JPMorgan Chase & Co. now owns 2,616,947 shares of the transportation company's stock valued at $265,646,000 after buying an additional 240,847 shares during the last quarter. NEOS Investment Management LLC boosted its position in Canadian National Railway by 79.2% in the 4th quarter. NEOS Investment Management LLC now owns 3,674 shares of the transportation company's stock valued at $373,000 after buying an additional 1,624 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in Canadian National Railway by 30.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 340,418 shares of the transportation company's stock valued at $34,551,000 after buying an additional 80,229 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

NYSE CNI traded down $0.46 on Thursday, hitting $93.77. The stock had a trading volume of 605,673 shares, compared to its average volume of 1,478,626. Canadian National Railway Company has a one year low of $91.65 and a one year 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. The stock has a market cap of $58.75 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 2.12 and a beta of 0.97. The company's 50-day moving average is $102.99 and its two-hundred day moving average is $101.35.

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 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 firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter last year, the company posted $1.84 EPS. Canadian National Railway's revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts expect 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be given a $0.6507 dividend. This is a boost 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 2.78%. Canadian National Railway's dividend payout ratio is 49.81%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stephens upped their price objective on shares of Canadian National Railway from $105.00 to $109.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Wall Street Zen raised shares of Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Stifel Nicolaus cut their target price on shares of Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group cut their target price on shares of Canadian National Railway from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Raymond James Financial upgraded shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Canadian National Railway currently has an average rating of "Hold" and a consensus target price of $118.36.

Canadian National Railway 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.