Canadian National Railway Company (NYSE:CNI) Stake Raised by Canoe Financial LP

Canoe Financial LP boosted its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 13.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,431,661 shares of the transportation company's stock after buying an additional 293,918 shares during the quarter. Canadian National Railway makes up about 3.8% of Canoe Financial LP's holdings, making the stock its 3rd biggest position. Canoe Financial LP owned about 0.39% of Canadian National Railway worth $236,717,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNI. Vontobel Holding Ltd. lifted its stake in shares of Canadian National Railway by 4.4% during the 4th quarter. Vontobel Holding Ltd. now owns 3,933 shares of the transportation company's stock worth $399,000 after purchasing an additional 167 shares during the period. D.A. Davidson & CO. raised its position in shares of Canadian National Railway by 20.3% in the 4th quarter. D.A. Davidson & CO. now owns 2,379 shares of the transportation company's stock worth $242,000 after buying an additional 401 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Canadian National Railway in the 4th quarter worth $59,000. Summerhill Capital Management lnc. raised its position in shares of Canadian National Railway by 1.4% in the 4th quarter. Summerhill Capital Management lnc. now owns 46,647 shares of the transportation company's stock worth $4,732,000 after buying an additional 629 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its position in Canadian National Railway by 1.0% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 93,054 shares of the transportation company's stock valued at $9,358,000 after purchasing an additional 939 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $101.89 on Friday. The stock has a market cap of $63.98 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.90 and a beta of 0.98. Canadian National Railway Company has a 12 month low of $91.65 and a 12 month high of $123.96. The stock's 50 day moving average price is $102.48 and its 200 day moving average price is $101.66. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.62 and a quick ratio of 0.43.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. Canadian National Railway had a return on equity of 22.29% and a net margin of 26.19%. The company had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $4.38 billion. During the same quarter in the prior year, the company earned $1.72 earnings per share. The firm's revenue was up 3.6% on a year-over-year basis. Equities research analysts anticipate 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 announced a dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.8875 per share. This is an increase from Canadian National Railway's previous dividend of $0.29. This represents a yield of 2.47%. The ex-dividend date is Monday, June 9th. Canadian National Railway's payout ratio is 50.49%.

Analysts Set New Price Targets

CNI has been the subject of several recent analyst reports. Evercore ISI lowered their target price on Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Raymond James Financial downgraded Canadian National Railway from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Wall Street Zen upgraded Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Citigroup lifted their target price on Canadian National Railway from $117.00 to $124.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Finally, Barclays reduced their price objective on Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.36.

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.

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