Canadian National Railway Company (NYSE:CNI) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. lifted its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 48.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 618,479 shares of the transportation company's stock after buying an additional 203,030 shares during the quarter. Canadian National Railway accounts for 2.1% of Intact Investment Management Inc.'s portfolio, making the stock its 9th biggest holding. Intact Investment Management Inc. owned 0.10% of Canadian National Railway worth $60,195,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CNI. Norges Bank purchased a new stake in shares of Canadian National Railway in the fourth quarter valued at approximately $563,048,000. Royal Bank of Canada boosted its stake in shares of Canadian National Railway by 7.5% in the fourth quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock valued at $2,817,616,000 after buying an additional 1,934,622 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Canadian National Railway by 33.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock valued at $557,278,000 after buying an additional 1,380,554 shares in the last quarter. Capital International Investors boosted its stake in shares of Canadian National Railway by 12.8% in the fourth quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock valued at $1,199,680,000 after buying an additional 1,341,133 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Canadian National Railway by 29.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company's stock worth $488,488,000 after purchasing an additional 1,102,977 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CNI. Bank of America boosted their target price 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. Stephens boosted their target price on Canadian National Railway from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Evercore ISI decreased their target price on Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Jefferies Financial Group decreased their target price on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup boosted their target price on Canadian National Railway from $117.00 to $124.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $120.36.

Canadian National Railway Price Performance

Shares of NYSE CNI traded up $0.04 during trading on Friday, reaching $101.89. The company had a trading volume of 1,114,033 shares, compared to its average volume of 1,324,089. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $123.96. The stock has a market capitalization of $63.98 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 1.90 and a beta of 0.98. The stock has a 50-day moving average price of $102.48 and a two-hundred day moving average price of $101.55. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 0.88.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.03. The company had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $4.38 billion. Canadian National Railway had a return on equity of 22.29% and a net margin of 26.19%. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.72 earnings per share. As a group, sell-side analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be paid a $0.8875 dividend. This is a positive change from Canadian National Railway's previous dividend of $0.29. This represents a yield of 2.47%. The ex-dividend date of this dividend is Monday, June 9th. Canadian National Railway's dividend payout ratio is presently 50.49%.

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.