JPMorgan Chase & Co. Purchases 48,142 Shares of Canadian National Railway Company (NYSE:CNI)

Key Points

• JPMorgan Chase & Co. increased its stake in Canadian National Railway by 1.8%, owning 2,665,089 shares worth about $259.7 million as of the latest filing.
• The company declared a quarterly dividend of $0.6507, up from the previous $0.62, resulting in an annualized yield of 2.8%.
• Analysts have mixed ratings for the stock, with a consensus rating of "Hold" and an average target price of $118.36.

JPMorgan Chase & Co. lifted its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,665,089 shares of the transportation company's stock after purchasing an additional 48,142 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.42% of Canadian National Railway worth $259,740,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Shell Asset Management Co. increased its stake in shares of Canadian National Railway by 0.5% during the 4th quarter. Shell Asset Management Co. now owns 21,387 shares of the transportation company's stock worth $2,171,000 after purchasing an additional 100 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in Canadian National Railway by 44.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after buying an additional 106 shares during the last quarter. Heartland Advisors Inc. grew its stake in Canadian National Railway by 0.9% in the 1st quarter. Heartland Advisors Inc. now owns 12,293 shares of the transportation company's stock valued at $1,198,000 after buying an additional 108 shares during the last quarter. Voya Investment Management LLC grew its stake in Canadian National Railway by 1.4% in the 4th quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company's stock valued at $807,000 after buying an additional 112 shares during the last quarter. Finally, Gradient Investments LLC grew its stake in Canadian National Railway by 2.1% in the 1st quarter. Gradient Investments LLC now owns 5,409 shares of the transportation company's stock valued at $527,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CNI shares. Barclays lowered their target price on shares of Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. National Bank Financial lowered shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 23rd. Stephens raised their target price on shares of Canadian National Railway from $105.00 to $109.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Citigroup lowered their target price on shares of Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $118.36.

Canadian National Railway Price Performance

Shares of NYSE:CNI traded up $0.57 during midday trading on Friday, reaching $93.33. 1,103,725 shares of the company's stock were exchanged, compared to its average volume of 2,040,034. The company's 50 day simple moving average is $100.12 and its two-hundred day simple moving average is $100.54. The firm has a market capitalization of $58.26 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. Canadian National Railway Company has a 12 month low of $91.65 and a 12 month high of $121.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The business had revenue of $3.14 billion for 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%. Canadian National Railway's revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. Equities research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be issued a dividend of $0.6507 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $2.60 annualized dividend and a yield of 2.8%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's payout ratio is 49.81%.

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.