Geode Capital Management LLC Grows Stake in Canadian National Railway Company $CNI

Key Points

• Geode Capital Management increased its stake in Canadian National Railway by 4.3% in the fourth quarter, adding 209,319 shares and bringing its total to 5,119,084 shares worth about $514.9 million.
• Institutional ownership remains heavy, with hedge funds and other institutions holding about 80.74% of the stock. Several large investors, including Vanguard and Bank of Montreal, also increased their positions.
• Analysts are mixed on CNI: the stock has a Hold consensus rating with an average price target of $122.04. The company recently reported quarterly EPS of $1.31, met revenue expectations, and declared a quarterly dividend of $0.915 per share.

Geode Capital Management LLC grew its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,119,084 shares of the transportation company's stock after acquiring an additional 209,319 shares during the quarter. Geode Capital Management LLC owned about 0.83% of Canadian National Railway worth $514,884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Canadian National Railway by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 24,646,922 shares of the transportation company's stock valued at $2,437,679,000 after acquiring an additional 346,670 shares during the period. Bank of Montreal Can increased its holdings in shares of Canadian National Railway by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 14,201,675 shares of the transportation company's stock valued at $1,338,948,000 after acquiring an additional 42,907 shares during the period. Caisse de depot et placement du Quebec increased its holdings in shares of Canadian National Railway by 1.1% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company's stock valued at $1,310,600,000 after acquiring an additional 157,000 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Canadian National Railway by 639,137.0% in the 3rd quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company's stock valued at $844,353,000 after acquiring an additional 8,954,310 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of Canadian National Railway by 0.4% in the 3rd quarter. Mackenzie Financial Corp now owns 8,626,147 shares of the transportation company's stock valued at $813,287,000 after acquiring an additional 35,938 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNI has been the topic of a number of analyst reports. Evercore cut their price target on Canadian National Railway from $105.00 to $103.00 and set an "in-line" rating on the stock in a report on Monday, February 2nd. Citigroup lifted their price target on Canadian National Railway from $123.00 to $124.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Weiss Ratings upgraded Canadian National Railway from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, May 20th. Sanford C. Bernstein lifted their price target on Canadian National Railway from $113.88 to $117.36 and gave the company a "market perform" rating in a report on Tuesday, March 31st. Finally, Stephens dropped their target price on Canadian National Railway from $105.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Monday, February 2nd. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $122.04.

Canadian National Railway Stock Down 0.0%

Shares of CNI stock opened at $118.54 on Monday. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $119.87. The stock's fifty day moving average price is $109.59 and its 200 day moving average price is $103.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. The company has a market cap of $72.04 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, hitting the consensus estimate of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the business earned $1.85 EPS. The firm's revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts expect that Canadian National Railway Company will post 5.76 earnings per share for the current fiscal year.

Canadian National Railway Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $3.66 dividend on an annualized basis and a yield of 3.1%. Canadian National Railway's payout ratio is currently 48.73%.

About Canadian National Railway

Canadian National Railway Company NYSE: CNI is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN's core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.

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