Northern Trust Corp Acquires 109,232 Shares of Canadian National Railway Company $CNI

Key Points

• Northern Trust Corp increased its position in Canadian National Railway by 20.6%, owning 639,541 shares valued at approximately $62.33 million.
• Canadian National Railway announced an increase in its quarterly dividend to $0.6507, resulting in an annualized dividend of $2.60 and a 2.7% yield.
• The company's quarterly earnings were reported at $1.35 per share, missing the expected $1.37, with revenue down 1.3% compared to the previous year.

Northern Trust Corp raised its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 20.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 639,541 shares of the transportation company's stock after purchasing an additional 109,232 shares during the quarter. Northern Trust Corp owned 0.10% of Canadian National Railway worth $62,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. boosted its holdings in Canadian National Railway by 233.3% during the fourth quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company's stock valued at $2,537,000 after purchasing an additional 17,500 shares in the last quarter. Cypress Asset Management Inc. TX acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $875,000. GAMMA Investing LLC lifted its stake in shares of Canadian National Railway by 31.3% in 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 period. Principal Financial Group Inc. lifted its stake in shares of Canadian National Railway by 3.7% in 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 period. Finally, SG Americas Securities LLC lifted its stake in shares of Canadian National Railway by 60.6% in the 1st quarter. SG Americas Securities LLC now owns 9,729 shares of the transportation company's stock valued at $948,000 after purchasing an additional 3,671 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Citigroup lowered their price objective 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. 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. Susquehanna lowered their price objective on shares of Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Bank of America upped their price objective on shares of Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, Canadian National Railway currently has an average rating of "Hold" and a consensus target price of $118.36.

Canadian National Railway Stock Performance

CNI stock traded up $0.75 during mid-day trading on Monday, hitting $96.85. 974,845 shares of the company were exchanged, compared to its average volume of 1,636,694. The business has a 50 day simple moving average of $98.36 and a 200-day simple moving average of $99.94. 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 stock has a market capitalization of $60.46 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 2.15 and a beta of 0.94. Canadian National Railway Company has a 1-year low of $91.65 and a 1-year high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued 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). Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter last year, the business earned $1.84 earnings per share. The company's revenue was down 1.3% on a year-over-year basis. On average, equities analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.6507 per share. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, September 8th. Canadian National Railway's payout ratio is 49.81%.

Canadian National Railway 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.