Canadian National Railway Company $CNI Shares Acquired by Cardinal Capital Management Inc.

Key Points

• Cardinal Capital Management Inc. increased its stake in Canadian National Railway by 3.1%, acquiring an additional 22,035 shares, bringing its total holdings to 731,350 shares.
• Canadian National Railway reported a missed earnings estimate with earnings per share of $1.35 for the quarter, falling short of the expected $1.37, while its revenue was down 1.3% year-over-year.
• The company announced a dividend increase to $0.6507 per share, raising its annualized distribution to $2.60, with a payout ratio of 50.19%.

Cardinal Capital Management Inc. grew its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 3.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 731,350 shares of the transportation company's stock after buying an additional 22,035 shares during the period. Canadian National Railway accounts for about 2.4% of Cardinal Capital Management Inc.'s holdings, making the stock its 19th biggest holding. Cardinal Capital Management Inc. owned 0.12% of Canadian National Railway worth $76,178,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Polar Asset Management Partners Inc. increased its position in Canadian National Railway by 233.3% during the fourth quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company's stock worth $2,537,000 after purchasing an additional 17,500 shares during the last quarter. Cypress Asset Management Inc. TX purchased a new position in Canadian National Railway during the fourth quarter worth about $875,000. Goldman Sachs Group Inc. boosted its stake in shares of Canadian National Railway by 39.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company's stock valued at $259,694,000 after purchasing an additional 755,518 shares during the period. GAMMA Investing LLC boosted its stake in shares of Canadian National Railway by 31.3% in the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock valued at $70,000 after purchasing an additional 171 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Canadian National Railway by 3.7% in the first quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company's stock valued at $9,185,000 after purchasing an additional 3,400 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Shares of NYSE CNI traded up $0.26 during mid-day trading on Tuesday, hitting $92.27. 656,356 shares of the company were exchanged, compared to its average volume of 1,540,739. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The firm has a market cap of $57.28 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.15 and a beta of 0.94. The stock has a 50 day simple moving average of $95.40 and a 200-day simple moving average of $99.26. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $118.46.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm's revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $1.84 EPS. On average, sell-side analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be issued a $0.6507 dividend. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. Canadian National Railway's payout ratio is presently 50.19%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CNI shares. Argus upgraded shares of Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Barclays reduced their price objective on shares of 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. National Bank Financial downgraded shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reduced their price objective on shares of 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, Evercore ISI downgraded shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price objective for the company. in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Canadian National Railway presently has a consensus rating of "Hold" and a consensus target price 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.