Ninety One UK Ltd Acquires 149,484 Shares of Canadian National Railway Company $CNI

Key Points

• Ninety One UK Ltd has increased its holdings in Canadian National Railway by 7.9%, acquiring an additional 149,484 shares during the second quarter, bringing its total ownership to approximately 2,050,826 shares valued at $213,259,000.
• Canadian National Railway recently reported earnings of $1.35 per share, missing expectations, while its quarterly revenue fell by 1.3% year-over-year, amounting to $3.14 billion.
• The company has announced a quarterly dividend increase from $0.62 to $0.6507 per share, which represents a 2.8% dividend yield and a payout ratio of 50.19%.

Ninety One UK Ltd increased its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 7.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,050,826 shares of the transportation company's stock after purchasing an additional 149,484 shares during the period. Ninety One UK Ltd owned approximately 0.33% of Canadian National Railway worth $213,259,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Bennett Selby Investments LP increased its position in shares of Canadian National Railway by 2.2% during the 2nd quarter. Bennett Selby Investments LP now owns 4,796 shares of the transportation company's stock valued at $499,000 after purchasing an additional 101 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Canadian National Railway by 44.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. Heartland Advisors Inc. increased its position in shares of Canadian National Railway by 0.9% during the 1st quarter. Heartland Advisors Inc. now owns 12,293 shares of the transportation company's stock valued at $1,198,000 after purchasing an additional 108 shares during the last quarter. Gradient Investments LLC increased its position in shares of Canadian National Railway by 2.1% during the 1st quarter. Gradient Investments LLC now owns 5,409 shares of the transportation company's stock valued at $527,000 after purchasing an additional 112 shares during the last quarter. Finally, Diversified Trust Co increased its position in shares of Canadian National Railway by 5.7% during the 1st quarter. Diversified Trust Co now owns 2,561 shares of the transportation company's stock valued at $250,000 after purchasing an additional 139 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on CNI. 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. Citigroup reduced their price target on shares of Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Evercore ISI lowered shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price target for the company. in a research report on Wednesday, July 23rd. Argus raised shares of Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Canadian National Railway currently has a consensus rating of "Hold" and an average price target of $116.86.

Canadian National Railway Trading Up 0.4%

Canadian National Railway stock opened at $94.29 on Wednesday. The stock has a market cap of $58.53 billion, a P/E ratio of 18.13, a PEG ratio of 2.16 and a beta of 0.94. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. Canadian National Railway Company has a 1 year low of $91.07 and a 1 year high of $117.42. The firm's 50 day moving average price is $94.41 and its 200-day moving average price is $99.08.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). The company had revenue of $3.14 billion for 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 company's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 EPS. On average, equities analysts predict 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 given a dividend of $0.6507 per share. The ex-dividend date was 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%.

About Canadian National Railway

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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