Lincluden Management Ltd. Raises Stock Position in Canadian National Railway Company $CNI

Key Points

• Lincluden Management Ltd. raised its holdings in Canadian National Railway Company by 2.2%, now owning 417,087 shares valued at approximately $43.4 million.
• In the second quarter, several institutional investors increased their stakes in Canadian National Railway, contributing to an overall institutional ownership of 80.74%.
• Canadian National Railway announced a quarterly dividend increase to $0.6507 per share, resulting in a dividend yield of 2.8%.

Lincluden Management Ltd. increased its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 417,087 shares of the transportation company's stock after purchasing an additional 8,865 shares during the quarter. Canadian National Railway makes up 4.8% of Lincluden Management Ltd.'s investment portfolio, making the stock its 3rd biggest holding. Lincluden Management Ltd. owned approximately 0.07% of Canadian National Railway worth $43,419,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Stonehage Fleming Financial Services Holdings Ltd grew its stake in shares of Canadian National Railway by 17.2% in the second quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 6,019 shares of the transportation company's stock worth $626,000 after purchasing an additional 885 shares during the last quarter. Natural Investments LLC grew its stake in shares of Canadian National Railway by 10.4% in the second quarter. Natural Investments LLC now owns 5,133 shares of the transportation company's stock worth $533,000 after purchasing an additional 485 shares during the last quarter. Louisbourg Investments Inc. grew its stake in shares of Canadian National Railway by 1.1% in the second quarter. Louisbourg Investments Inc. now owns 292,414 shares of the transportation company's stock worth $30,412,000 after purchasing an additional 3,295 shares during the last quarter. Trust Co. of Toledo NA OH bought a new stake in shares of Canadian National Railway in the second quarter worth $166,000. Finally, Inspire Investing LLC grew its stake in shares of Canadian National Railway by 8.7% in the second quarter. Inspire Investing LLC now owns 20,613 shares of the transportation company's stock worth $2,147,000 after purchasing an additional 1,642 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Weiss Ratings reissued a "hold (c-)" rating on shares of Canadian National Railway in a research note on Wednesday. Wall Street Zen lowered shares of Canadian National Railway from a "hold" rating to a "sell" rating in a report on Saturday, October 4th. National Bank Financial lowered shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a report on Wednesday, July 23rd. Evercore ISI lowered shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 target price on the stock. in a report on Wednesday, July 23rd. Finally, Argus upgraded shares of Canadian National Railway to a "hold" rating in a report on Friday, June 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Canadian National Railway presently has an average rating of "Moderate Buy" and an average price target of $114.30.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $94.51 on Friday. The firm's 50-day moving average price is $94.54 and its 200-day moving average price is $98.94. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $116.79. The firm has a market capitalization of $58.67 billion, a P/E ratio of 18.18, a P/E/G ratio of 2.13 and a beta of 0.96. 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 announced its quarterly earnings data 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 company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the prior year, the company posted $1.84 EPS. Canadian National Railway's revenue for the quarter was down 1.3% on a year-over-year basis. Equities research analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 8th were issued a dividend of $0.6507 per share. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is currently 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.

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