Carnegie Investment Counsel Acquires Shares of 3,283 Canadian National Railway Company (NYSE:CNI)

Key Points

• Carnegie Investment Counsel has acquired 3,283 shares of Canadian National Railway Company, valued at approximately $320,000, marking a significant new stake in the transportation company.
• Several large investors have also recently increased their stakes in Canadian National Railway, with Norges Bank acquiring a position valued at $563 million and Royal Bank of Canada lifting its stake by 7.5%.
• Canadian National Railway announced an increase in its quarterly dividend from $0.62 to $0.6507, representing an annualized yield of 2.71%.

Carnegie Investment Counsel acquired a new stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,283 shares of the transportation company's stock, valued at approximately $320,000.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $563,048,000. Royal Bank of Canada lifted its stake in shares of Canadian National Railway by 7.5% in the 4th 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 period. Price T Rowe Associates Inc. MD lifted its stake in shares of Canadian National Railway by 33.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock valued at $557,278,000 after purchasing an additional 1,380,554 shares during the period. Capital International Investors lifted its stake in shares of Canadian National Railway by 12.8% in 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 purchasing an additional 1,341,133 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Canadian National Railway by 29.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company's stock valued at $488,488,000 after purchasing an additional 1,102,977 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Raymond James Financial upgraded shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. Stephens lifted their price target on shares of 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. Evercore ISI cut shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price target on the stock. in a research note on Wednesday. Wall Street Zen raised shares of Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, National Bank Financial cut shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $118.36.

Canadian National Railway Trading Up 0.5%

Shares of CNI opened at $95.87 on Friday. The firm's fifty day moving average is $103.72 and its two-hundred day moving average is $101.48. The stock has a market cap of $60.06 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 2.13 and a beta of 0.97. The company has a quick ratio of 0.43, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 52-week low of $91.65 and a 52-week high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The company had revenue of $3.14 billion for 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 business's quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm posted $1.84 EPS. Research analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be given a $0.6507 dividend. The ex-dividend date is Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a yield of 2.71%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's payout ratio is currently 49.81%.

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.

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