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Canadian National Railway Company (NYSE:CNI) is Forge First Asset Management Inc.'s Largest Position

Canadian National Railway logo with Transportation background

Key Points

  • Forge First Asset Management Inc. increased its stake in Canadian National Railway Company by 29.7%, bringing its total shares owned to 229,300, making it the firm's largest holding.
  • Canadian National Railway reported a miss on earnings, with an EPS of $1.35 compared to expectations of $1.37, along with a revenue decline of 1.3% year-over-year.
  • The company recently announced a quarterly dividend increase to $0.6507, representing an annual yield of 2.8%, up from its previous dividend of $0.62.
  • Five stocks we like better than Canadian National Railway.

Forge First Asset Management Inc. increased its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 29.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,300 shares of the transportation company's stock after buying an additional 52,500 shares during the quarter. Canadian National Railway comprises approximately 9.6% of Forge First Asset Management Inc.'s investment portfolio, making the stock its biggest holding. Forge First Asset Management Inc.'s holdings in Canadian National Railway were worth $22,345,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CNI. Royal Bank of Canada lifted its position in Canadian National Railway by 7.5% during the fourth 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 raised its position in shares of Canadian National Railway by 33.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock worth $557,278,000 after acquiring an additional 1,380,554 shares during the period. Capital International Investors raised its position in shares of Canadian National Railway by 12.8% in the fourth quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock worth $1,199,680,000 after acquiring an additional 1,341,133 shares during the period. Geode Capital Management LLC raised its position in shares of Canadian National Railway by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 3,306,192 shares of the transportation company's stock worth $340,987,000 after acquiring an additional 743,712 shares during the period. Finally, BLI Banque de Luxembourg Investments acquired a new position in shares of Canadian National Railway in the fourth quarter worth about $70,283,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

CNI stock traded down $0.63 during mid-day trading on Friday, reaching $92.82. The company's stock had a trading volume of 2,049,316 shares, compared to its average volume of 1,824,892. The company's 50 day moving average is $102.49 and its two-hundred day moving average is $101.25. Canadian National Railway Company has a fifty-two week low of $91.65 and a fifty-two week high of $121.12. 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 stock has a market cap of $58.15 billion, a PE ratio of 17.85, a P/E/G ratio of 2.07 and a beta of 0.94.

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 for the quarter, missing the consensus estimate of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $4.34 billion. During the same period last year, the company earned $1.84 EPS. The business's quarterly revenue was down 1.3% on a year-over-year basis. Equities research analysts expect 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. Stockholders of record on Monday, September 8th will be paid a $0.6507 dividend. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, September 8th. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. Canadian National Railway's dividend payout ratio is currently 49.81%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. 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. 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. Argus upgraded shares of Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Royal Bank Of Canada decreased 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, Susquehanna decreased their price objective 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. Two investment 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's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $118.36.

Read Our Latest Stock Analysis on Canadian National Railway

About Canadian National Railway

(Free Report)

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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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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