First Long Island Investors LLC Has $15.30 Million Stock Position in Canadian National Railway Company $CNI

Key Points

• First Long Island Investors LLC has reduced its stake in Canadian National Railway Company by 2.5%, now owning 157,010 shares worth approximately $15.3 million.
• Several institutional investors, including Royal Bank of Canada and Goldman Sachs Group Inc., have increased their stakes in Canadian National Railway, with institutional investors owning approximately 80.74% of the company's stock.
• Canadian National Railway recently declared a quarterly dividend of $0.6507 per share, reflecting an increase from its previous dividend and representing an annualized yield of 2.8%.

First Long Island Investors LLC lowered its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 2.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 157,010 shares of the transportation company's stock after selling 4,014 shares during the period. First Long Island Investors LLC's holdings in Canadian National Railway were worth $15,302,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CNI. Royal Bank of Canada grew its stake in 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 buying an additional 1,934,622 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Canadian National Railway by 37.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company's stock valued at $518,260,000 after buying an additional 1,439,617 shares during the last quarter. Nuveen LLC acquired a new position in Canadian National Railway in the 1st quarter valued at about $112,216,000. Price T Rowe Associates Inc. MD grew its stake in Canadian National Railway by 20.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company's stock valued at $646,983,000 after buying an additional 1,148,569 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Canadian National Railway by 39.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company's stock valued at $259,694,000 after buying an additional 755,518 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Analysts Set New Price Targets

CNI has been the subject of a number of recent research reports. Raymond James Financial raised shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Citigroup cut their price objective on shares of Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Canadian National Railway in a 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 report on Wednesday, July 23rd. Finally, Barclays cut 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 report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Canadian National Railway has an average rating of "Hold" and an average price target of $118.36.

Canadian National Railway Stock Performance

NYSE CNI opened at $93.95 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $58.65 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.12 and a beta of 0.94. The firm's 50 day simple moving average is $96.93 and its 200 day simple moving average is $99.57. Canadian National Railway Company has a 1 year low of $91.07 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. As a group, research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal 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 50.19%.

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.

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