TD Asset Management Inc Grows Stock Holdings in Canadian National Railway Company (NYSE:CNI)

Key Points

• TD Asset Management Inc has increased its stake in Canadian National Railway by 0.3%, holding approximately 11.8 million shares valued at over $1.1 billion, making it the firm's 18th largest investment.
• The company recently announced a quarterly dividend increase to $0.6507 per share, which offers an annual yield of 2.71% and shows a dividend payout ratio of 50.19%.
• Analysts have lowered target prices for Canadian National Railway stock with a consensus rating of "Hold" and an average price target of $118.36.

TD Asset Management Inc raised its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,798,566 shares of the transportation company's stock after purchasing an additional 30,066 shares during the period. Canadian National Railway accounts for about 1.1% of TD Asset Management Inc's portfolio, making the stock its 18th biggest position. TD Asset Management Inc owned about 1.88% of Canadian National Railway worth $1,148,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $563,048,000. Royal Bank of Canada lifted its stake 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 worth $2,817,616,000 after acquiring an additional 1,934,622 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Canadian National Railway by 33.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock worth $557,278,000 after acquiring an additional 1,380,554 shares during the last quarter. Capital International Investors lifted its stake in shares of Canadian National Railway by 12.8% during the 4th quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock worth $1,199,680,000 after acquiring an additional 1,341,133 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Canadian National Railway by 29.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company's stock worth $488,488,000 after acquiring an additional 1,102,977 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Down 0.9%

CNI stock traded down $0.83 on Monday, hitting $95.04. 1,545,932 shares of the company's stock were exchanged, compared to its average volume of 1,582,010. Canadian National Railway Company has a 12-month low of $91.65 and a 12-month high of $121.12. The firm has a 50 day moving average price of $103.72 and a two-hundred day moving average price of $101.47. 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 stock has a market cap of $59.54 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 2.13 and a beta of 0.97.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share 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 business had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $4.34 billion. During the same quarter last year, the firm earned $1.84 earnings per share. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, equities research analysts expect 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. Investors of record on Monday, September 8th will be paid a dividend of $0.6507 per share. This represents a $2.60 annualized dividend and a yield of 2.74%. This is an increase 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 payout ratio is 49.81%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CNI shares. Stifel Nicolaus decreased their target price on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Barclays decreased their target price on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 23rd. Jefferies Financial Group decreased their target price on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Royal Bank Of Canada decreased their target price on Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Finally, Susquehanna decreased their target price on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.