Canadian National Railway Company $CNI Stock Holdings Decreased by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Canadian National Railway by 1.9%, owning approximately 0.08% of the company, valued at $50.09 million after selling nearly 10,000 shares in the first quarter.
• Canadian National Railway announced a quarterly dividend increase to $0.6507 per share, up from the previous $0.62, representing an annualized yield of 2.8%.
• The company's last earnings report showed an earnings miss at $1.35 per share, falling short of the consensus estimate, with revenue declining 1.3% year-over-year.

Invesco Ltd. cut its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 513,968 shares of the transportation company's stock after selling 9,976 shares during the quarter. Invesco Ltd. owned about 0.08% of Canadian National Railway worth $50,091,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Townsquare Capital LLC raised its position in shares of Canadian National Railway by 89.5% during the 4th quarter. Townsquare Capital LLC now owns 3,883 shares of the transportation company's stock worth $394,000 after buying an additional 1,834 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Canadian National Railway by 55.8% during the 4th quarter. NewEdge Advisors LLC now owns 5,296 shares of the transportation company's stock worth $538,000 after buying an additional 1,896 shares in the last quarter. Marshall Wace LLP raised its position in shares of Canadian National Railway by 14.0% during the 4th quarter. Marshall Wace LLP now owns 83,138 shares of the transportation company's stock worth $8,439,000 after buying an additional 10,212 shares in the last quarter. First Trust Advisors LP raised its position in shares of Canadian National Railway by 3.4% during the 4th quarter. First Trust Advisors LP now owns 417,759 shares of the transportation company's stock worth $42,407,000 after buying an additional 13,630 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Canadian National Railway by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,211,222 shares of the transportation company's stock worth $122,948,000 after buying an additional 31,752 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on CNI shares. Bank of America boosted their price target on shares of Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Stephens boosted their price target on shares of Canadian National Railway from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Royal Bank Of Canada dropped their price target on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Raymond James Financial upgraded shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 17th. Finally, Wells Fargo & Company dropped their target price on shares of Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of "Hold" and an average target price of $118.36.

Canadian National Railway Price Performance

Shares of NYSE CNI traded up $2.1020 during midday trading on Friday, reaching $96.1320. The company's stock had a trading volume of 668,304 shares, compared to its average volume of 1,490,316. 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 company has a 50 day moving average price of $99.24 and a 200 day moving average price of $100.27. Canadian National Railway Company has a one year low of $91.65 and a one year high of $121.12. The company has a market cap of $60.01 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 2.09 and a beta of 0.94.

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 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be given a $0.6507 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.7%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, September 8th. Canadian National Railway's payout ratio is 49.81%.

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.