Canadian National Railway Company (NYSE:CNI) Holdings Lifted by Canoe Financial LP

Canoe Financial LP increased its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 13.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,431,661 shares of the transportation company's stock after acquiring an additional 293,918 shares during the quarter. Canadian National Railway comprises approximately 3.8% of Canoe Financial LP's portfolio, making the stock its 3rd largest holding. Canoe Financial LP owned about 0.39% of Canadian National Railway worth $236,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Polar Asset Management Partners Inc. increased its holdings in shares of Canadian National Railway by 233.3% in the 4th quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company's stock valued at $2,537,000 after acquiring an additional 17,500 shares during the period. Cypress Asset Management Inc. TX acquired a new position in Canadian National Railway in the fourth quarter valued at $875,000. SG Americas Securities LLC raised its holdings in shares of Canadian National Railway by 60.6% in the first quarter. SG Americas Securities LLC now owns 9,729 shares of the transportation company's stock valued at $948,000 after buying an additional 3,671 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Canadian National Railway by 6.7% during the fourth quarter. Focus Partners Wealth now owns 10,368 shares of the transportation company's stock worth $1,078,000 after buying an additional 655 shares during the period. Finally, Ritholtz Wealth Management boosted its stake in shares of Canadian National Railway by 23.3% during the first quarter. Ritholtz Wealth Management now owns 10,957 shares of the transportation company's stock worth $1,068,000 after buying an additional 2,068 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

Canadian National Railway stock traded down $0.14 during trading hours on Tuesday, hitting $102.14. The stock had a trading volume of 1,073,032 shares, compared to its average volume of 1,323,333. Canadian National Railway Company has a 1-year low of $91.65 and a 1-year high of $123.96. The stock has a market capitalization of $64.13 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.90 and a beta of 0.98. The stock's fifty day moving average is $102.52 and its two-hundred day moving average is $101.52. 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 issued its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.03. The firm had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $4.38 billion. Canadian National Railway had a net margin of 26.19% and a return on equity of 22.29%. The firm's revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.72 EPS. As a group, analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be given a dividend of $0.8875 per share. This is an increase from Canadian National Railway's previous dividend of $0.29. This represents a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, June 9th. Canadian National Railway's payout ratio is currently 50.49%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Stephens upped their price objective on 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. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $163.00 price target on shares of Canadian National Railway in a report on Thursday, June 5th. Bank of America lifted their price objective on shares of Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Citigroup upped their price objective on shares of Canadian National Railway from $117.00 to $124.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, Barclays lowered their target price on shares of Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $120.52.

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.