Connor Clark & Lunn Investment Management Ltd. Has $311.48 Million Stock Position in Canadian National Railway Company (NYSE:CNI)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Canadian National Railway by 10.0%, owning 3,200,236 shares after selling 355,943 shares.
• Canadian National Railway recently announced a quarterly dividend of $0.6507 per share, an increase from the previous $0.62, with a current yield of 2.8%.
• The company reported $1.35 earnings per share for the last quarter, which was below analysts' expectations of $1.37, with total revenue of $3.14 billion.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 10.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,200,236 shares of the transportation company's stock after selling 355,943 shares during the quarter. Canadian National Railway accounts for 1.4% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 13th largest holding. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.51% of Canadian National Railway worth $311,480,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CNI. Bruce G. Allen Investments LLC boosted its holdings in shares of Canadian National Railway by 44.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock worth $34,000 after acquiring an additional 106 shares in the last quarter. CX Institutional acquired a new position in shares of Canadian National Railway in the 1st quarter worth approximately $39,000. Dunhill Financial LLC raised its position in Canadian National Railway by 1,020.0% in the 4th quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock worth $57,000 after purchasing an additional 510 shares during the last quarter. GAMMA Investing LLC raised its position in Canadian National Railway by 31.3% in the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after purchasing an additional 171 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in Canadian National Railway by 57.8% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 819 shares of the transportation company's stock worth $80,000 after purchasing an additional 300 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

Shares of NYSE CNI traded up $0.66 during trading hours on Tuesday, hitting $93.90. 1,365,170 shares of the stock were exchanged, compared to its average volume of 1,482,613. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. The company has a market cap of $58.83 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. The company's fifty day simple moving average is $101.09 and its two-hundred day simple moving average is $100.81. Canadian National Railway Company has a 1-year low of $91.65 and a 1-year high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm 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 revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.84 EPS. On average, sell-side analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be given a dividend of $0.6507 per share. The ex-dividend date is Monday, September 8th. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's dividend payout ratio (DPR) is 49.81%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Argus upgraded shares of Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Susquehanna dropped their target price on shares of Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Bank of America upped 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. Stephens upped their target price on shares of Canadian National Railway from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. restated a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.