MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Invests $7.25 Million in Canadian National Railway Company $CNI

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH has invested $7.25 million in Canadian National Railway Company by acquiring 69,759 shares during the second quarter.
• Canadian National Railway's most recent quarterly earnings reported an EPS of $1.35, which missed analysts' expectations by $0.02, alongside a revenue of $3.14 billion for the quarter.
• The company has announced an increase in its quarterly dividend to $0.6507 per share, representing an annualized figure of $2.60 and a yield of 2.8%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 69,759 shares of the transportation company's stock, valued at approximately $7,254,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Founders Capital Management LLC purchased a new stake in Canadian National Railway during the 2nd quarter valued at about $3,335,000. Goldman Sachs Group Inc. grew its position in Canadian National Railway by 39.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company's stock valued at $259,694,000 after purchasing an additional 755,518 shares during the last quarter. GAMMA Investing LLC grew its position in Canadian National Railway by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock valued at $70,000 after purchasing an additional 171 shares during the last quarter. Cardinal Capital Management Inc. grew its position in Canadian National Railway by 3.1% during the 2nd quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company's stock valued at $76,178,000 after purchasing an additional 22,035 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Canadian National Railway by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company's stock valued at $9,185,000 after purchasing an additional 3,400 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNI has been the topic of several recent analyst reports. Raymond James Financial raised shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 17th. Wells Fargo & Company dropped their price target 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. Susquehanna dropped their price target on shares of Canadian National Railway from $122.00 to $120.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Finally, Citigroup dropped their price target on shares of Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $118.36.

Canadian National Railway Price Performance

NYSE CNI opened at $92.14 on Thursday. Canadian National Railway Company has a 12 month low of $91.07 and a 12 month high of $118.23. The stock has a market cap of $57.20 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.12 and a beta of 0.94. The company's 50 day moving average is $94.97 and its two-hundred day moving average is $99.16. 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 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 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%.Canadian National Railway's revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.84 EPS. As a group, research analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be given a dividend of $0.6507 per share. The ex-dividend date is Monday, September 8th. 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%. Canadian National Railway's dividend payout ratio (DPR) is 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.

Want to see what other hedge funds are holding CNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.