Canadian National Railway Company $CNI Stock Position Raised by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Canadian National Railway Company by 11.4%, owning approximately $33.23 million worth of the stock, which represents 0.9% of its overall portfolio.
• Several other institutional investors, including Royal Bank of Canada and Vanguard Group Inc., have also increased their holdings in Canadian National Railway, indicating strong interest from hedge funds and institutional investors.
• Canadian National Railway declared a quarterly dividend of $0.6507 per share, reflecting an annualized yield of 2.8%, which is an increase from the previous dividend of $0.62.

Northwest & Ethical Investments L.P. raised its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,221 shares of the transportation company's stock after purchasing an additional 35,020 shares during the quarter. Canadian National Railway comprises about 0.9% of Northwest & Ethical Investments L.P.'s investment portfolio, making the stock its 20th biggest position. Northwest & Ethical Investments L.P. owned 0.05% of Canadian National Railway worth $33,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CNI. Royal Bank of Canada raised its position in Canadian National Railway by 7.5% in the fourth quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock valued at $2,817,616,000 after purchasing an additional 1,934,622 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Canadian National Railway by 33.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock worth $557,278,000 after buying an additional 1,380,554 shares during the period. Nuveen LLC purchased a new stake in Canadian National Railway during the 1st quarter worth $112,216,000. BLI Banque de Luxembourg Investments purchased a new stake in Canadian National Railway during the 4th quarter worth $70,283,000. Finally, Value Partners Investments Inc. increased its stake in Canadian National Railway by 1,101.9% during the 1st quarter. Value Partners Investments Inc. now owns 553,290 shares of the transportation company's stock worth $53,897,000 after buying an additional 507,254 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Argus raised shares of Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. 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 note on Wednesday, July 23rd. Evercore ISI downgraded shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price target on the stock. in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, 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 research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $118.36.

Canadian National Railway Stock Performance

CNI traded down $0.4970 on Wednesday, hitting $93.8530. 1,389,810 shares of the company's stock were exchanged, compared to its average volume of 1,500,821. The firm has a market cap of $58.59 billion, a PE ratio of 18.05, a P/E/G ratio of 2.07 and a beta of 0.94. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $121.12. The stock has a fifty day moving average of $99.67 and a two-hundred day moving average of $100.35. 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 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 return on equity of 21.71% and a net margin of 26.63%.The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter last year, the company earned $1.84 EPS. Canadian National Railway's revenue was down 1.3% compared to the same quarter last year. On average, 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 will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be issued a $0.6507 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 8th. Canadian National Railway's payout ratio is 50.19%.

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.