Novem Group Boosts Holdings in Canadian National Railway Company (NYSE:CNI)

Novem Group lifted its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 33.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,633 shares of the transportation company's stock after buying an additional 2,643 shares during the quarter. Novem Group's holdings in Canadian National Railway were worth $1,036,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $563,048,000. Royal Bank of Canada increased its holdings in shares of Canadian National Railway by 7.5% in the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock valued at $2,817,616,000 after acquiring an additional 1,934,622 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Canadian National Railway by 33.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock valued at $557,278,000 after acquiring an additional 1,380,554 shares during the period. Capital International Investors increased its holdings in shares of Canadian National Railway by 12.8% in the 4th quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock valued at $1,199,680,000 after acquiring an additional 1,341,133 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Canadian National Railway by 29.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company's stock valued at $488,488,000 after acquiring an additional 1,102,977 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Price Performance

Shares of CNI traded up $0.15 during trading hours on Friday, reaching $106.75. The company had a trading volume of 761,838 shares, compared to its average volume of 1,329,144. The firm has a 50 day simple moving average of $103.63 and a 200-day simple moving average of $101.56. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $67.02 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.99 and a beta of 0.97. Canadian National Railway Company has a 12-month low of $91.65 and a 12-month high of $123.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.03. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $4.38 billion. Canadian National Railway had a net margin of 26.19% and a return on equity of 22.29%. The business's revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.72 EPS. Research analysts expect 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 declared a dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were issued a $0.8875 dividend. This represents a dividend yield of 2.47%. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Canadian National Railway's previous dividend of $0.29. Canadian National Railway's dividend payout ratio (DPR) is currently 50.49%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CNI. Stephens lifted their target price on shares of Canadian National Railway from $105.00 to $109.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Royal Bank Of Canada restated an "outperform" rating and set a $163.00 price objective on shares of Canadian National Railway in a research report on Thursday, June 5th. 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. Susquehanna upped their price objective on shares of Canadian National Railway from $120.00 to $122.00 and gave the stock a "positive" rating in a research report on Tuesday, June 24th. Finally, Argus upgraded shares of Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Canadian National Railway currently has a consensus rating of "Moderate Buy" and an average price target of $120.52.

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.