Cardinal Capital Management Inc. Has $69.06 Million Holdings in Canadian National Railway (NYSE:CNI)

Cardinal Capital Management Inc. lifted its stake in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 4.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 709,315 shares of the transportation company's stock after purchasing an additional 31,104 shares during the period. Canadian National Railway makes up about 2.3% of Cardinal Capital Management Inc.'s holdings, making the stock its 18th biggest position. Cardinal Capital Management Inc. owned 0.11% of Canadian National Railway worth $69,056,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Polar Asset Management Partners Inc. raised its position in shares of 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 period. Cypress Asset Management Inc. TX purchased a new position in shares of Canadian National Railway during the fourth quarter valued at $875,000. CIBC Asset Management Inc boosted its position in Canadian National Railway by 12.6% during the 4th quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company's stock worth $519,843,000 after acquiring an additional 571,967 shares during the period. Focus Partners Wealth boosted its position in Canadian National Railway by 6.7% during the 4th quarter. Focus Partners Wealth now owns 10,368 shares of the transportation company's stock worth $1,078,000 after acquiring an additional 655 shares during the period. Finally, TD Asset Management Inc. grew its stake in 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 in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CNI. Evercore ISI lowered their target price on Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. 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. Bank of America lifted their target price on Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $163.00 target price on shares of Canadian National Railway in a research note on Thursday, June 5th. Finally, Barclays lowered their price target on Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.36.

Canadian National Railway Stock Performance

Canadian National Railway stock traded up $0.87 during trading hours on Thursday, reaching $105.31. 787,246 shares of the company were exchanged, compared to its average volume of 1,333,836. The firm has a market cap of $66.19 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.95 and a beta of 0.98. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The stock has a 50-day moving average of $101.50 and a 200 day moving average of $102.04. Canadian National Railway has a 12 month low of $91.65 and a 12 month high of $125.87.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.03. Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. The firm had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $4.38 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. The company's revenue was up 3.6% on a year-over-year basis. As a group, research analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

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

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.