Gulf International Bank UK Ltd Buys 29,931 Shares of Canadian National Railway Company (NYSE:CNI)

Key Points

• Gulf International Bank UK Ltd significantly increased its stake in Canadian National Railway Company by 2,758.6%, acquiring a total of 31,016 shares valued at approximately $3.02 million.
• Several institutional investors, including Royal Bank of Canada and Vanguard Group Inc., have also increased their holdings in Canadian National Railway, indicating strong institutional confidence.
• Canadian National Railway announced a dividend increase to $0.6507 per share, up from the previous $0.62, reflecting a commitment to returning value to shareholders amidst fluctuating earnings.

Gulf International Bank UK Ltd grew its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 2,758.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,016 shares of the transportation company's stock after buying an additional 29,931 shares during the period. Gulf International Bank UK Ltd's holdings in Canadian National Railway were worth $3,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings 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 buying an additional 1,934,622 shares during the period. Vanguard Group Inc. increased its holdings in Canadian National Railway by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 23,165,939 shares of the transportation company's stock worth $2,254,370,000 after purchasing an additional 179,261 shares in the last quarter. Capital International Investors increased its holdings in Canadian National Railway by 12.8% during the 4th quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock worth $1,199,680,000 after purchasing an additional 1,341,133 shares in the last quarter. TD Asset Management Inc increased its holdings in Canadian National Railway by 0.3% during the 1st quarter. TD Asset Management Inc now owns 11,798,566 shares of the transportation company's stock worth $1,148,008,000 after purchasing an additional 30,066 shares in the last quarter. Finally, JARISLOWSKY FRASER Ltd increased its holdings in Canadian National Railway by 4.8% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock worth $926,573,000 after purchasing an additional 422,078 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Stock Performance

Shares of CNI stock traded up $0.57 on Friday, reaching $93.33. The stock had a trading volume of 1,103,725 shares, compared to its average volume of 2,040,034. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The firm's 50-day moving average is $100.12 and its two-hundred day moving average is $100.50. The firm has a market capitalization of $58.26 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.08 and a beta of 0.94. Canadian National Railway Company has a 12 month low of $91.65 and a 12 month high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 earnings per share. On average, research analysts expect that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be issued a $0.6507 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's payout ratio is currently 49.81%.

Analysts Set New Price Targets

A number of research firms have issued reports on CNI. Susquehanna lowered their target price on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Wall Street Zen upgraded Canadian National Railway from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Raymond James Financial upgraded Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Argus upgraded Canadian National Railway to a "hold" rating in a report on Friday, June 27th. Finally, National Bank Financial downgraded shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Canadian National Railway presently has a consensus rating of "Hold" and an average price target of $118.36.

Canadian National Railway 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.