Canadian National Railway (NYSE:CNI) Shares Purchased by Sterling Investment Management LLC

Sterling Investment Management LLC grew its stake in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,029 shares of the transportation company's stock after buying an additional 4,161 shares during the period. Canadian National Railway accounts for 3.5% of Sterling Investment Management LLC's investment portfolio, making the stock its 5th biggest position. Sterling Investment Management LLC's holdings in Canadian National Railway were worth $4,973,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada increased its stake in 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 purchasing an additional 1,934,622 shares during the last quarter. Vanguard Group Inc. grew its holdings in Canadian National Railway by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 22,986,678 shares of the transportation company's stock valued at $2,334,251,000 after buying an additional 101,228 shares during the period. Capital International Investors increased 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 valued at $1,199,680,000 after acquiring an additional 1,341,133 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Canadian National Railway by 2.7% during the 4th quarter. TD Asset Management Inc. now owns 11,768,500 shares of the transportation company's stock valued at $1,194,443,000 after acquiring an additional 309,210 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd lifted its holdings in shares of Canadian National Railway by 4.8% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock worth $926,573,000 after acquiring an additional 422,078 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Down 1.6%

Canadian National Railway stock traded down $1.67 during midday trading on Friday, hitting $103.58. 616,006 shares of the company were exchanged, compared to its average volume of 1,335,360. The company's fifty day moving average price is $101.71 and its 200-day moving average price is $101.99. The company has a market cap of $65.10 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. Canadian National Railway has a fifty-two week low of $91.65 and a fifty-two week high of $123.96.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter last year, the company earned $1.72 earnings per share. Canadian National Railway's revenue for the quarter was up 3.6% on a year-over-year basis. On average, research analysts predict that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a yield of 2.47%. This is a positive change from Canadian National Railway's previous dividend of $0.29. Canadian National Railway's payout ratio is currently 50.29%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Royal Bank of Canada reissued an "outperform" rating and set a $163.00 price objective on shares of Canadian National Railway in a research note on Thursday, June 5th. Bank of America upped their price objective on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Stifel Nicolaus reduced their target price on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Susquehanna upgraded Canadian National Railway from a "neutral" rating to a "positive" rating and set a $120.00 price target for the company in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Canadian National Railway has a consensus rating of "Moderate Buy" and a consensus price target of $120.36.

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.