Canadian National Railway Company $CNI Stake Boosted by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Canadian National Railway (CNI) by 112.5%, acquiring an additional 26,331 shares, bringing its total holdings to 49,745 shares valued at approximately $4.84 million.
• Canadian National Railway recently raised its quarterly dividend from $0.62 to $0.6507, resulting in an annualized dividend yield of 2.8% and a payout ratio of 50.19%.
• Despite a miss in earnings for the last quarter, analysts maintain a generally positive outlook for Canadian National Railway, with forecasts predicting an EPS of 5.52 for the current year.

Intech Investment Management LLC lifted its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 112.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,745 shares of the transportation company's stock after buying an additional 26,331 shares during the quarter. Intech Investment Management LLC's holdings in Canadian National Railway were worth $4,840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake 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 worth $2,817,616,000 after purchasing an additional 1,934,622 shares during the last quarter. Vanguard Group Inc. lifted its stake in Canadian National Railway by 0.8% during the first 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 during the last quarter. TD Asset Management Inc lifted its stake in Canadian National Railway by 0.3% during the first 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 during the last quarter. 1832 Asset Management L.P. lifted its stake in Canadian National Railway by 6.0% during the first quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company's stock worth $1,095,793,000 after purchasing an additional 636,147 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Canadian National Railway by 6.3% during the first quarter. Mackenzie Financial Corp now owns 8,571,806 shares of the transportation company's stock worth $834,129,000 after purchasing an additional 505,588 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays reduced their price objective on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Raymond James Financial upgraded Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. Evercore ISI cut Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price objective on the stock. in a research note on Wednesday, July 23rd. Royal Bank Of Canada cut their target price on Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Finally, Susquehanna cut their target price on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $118.36.

Canadian National Railway Price Performance

NYSE:CNI traded down $0.66 during mid-day trading on Thursday, reaching $94.00. 628,608 shares of the stock were exchanged, compared to its average volume of 1,528,633. The business has a fifty day moving average price of $96.12 and a 200 day moving average price of $99.41. The firm has a market capitalization of $58.36 billion, a PE ratio of 18.08, a PEG ratio of 2.20 and a beta of 0.94. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $119.61. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released 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 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%.Canadian National Railway's revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 earnings per share. 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be issued a dividend of $0.6507 per share. The ex-dividend date of this dividend is Monday, September 8th. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a yield of 2.8%. Canadian National Railway's dividend payout ratio is presently 50.19%.

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.