1,153,289 Shares in Canadian National Railway Company (NYSE:CNI) Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired a stake in Canadian National Railway by purchasing 1,153,289 shares, valued at approximately $112 million, bringing their ownership to 0.18% of the company.
• The company is set to increase its quarterly dividend from $0.62 to $0.6507 per share, resulting in an annualized dividend yield of 2.8%.
• Analysts have given Canadian National Railway a consensus rating of "Hold" with an average price target of $118.36, while adjusting various target prices recently.

Nuveen LLC bought a new position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,153,289 shares of the transportation company's stock, valued at approximately $112,216,000. Nuveen LLC owned 0.18% of Canadian National Railway at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bruce G. Allen Investments LLC boosted its position in Canadian National Railway by 44.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after buying an additional 106 shares during the last quarter. CX Institutional bought a new position in shares of Canadian National Railway in the 1st quarter worth $39,000. Dunhill Financial LLC boosted its position in shares of Canadian National Railway by 1,020.0% in the 4th quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock worth $57,000 after purchasing an additional 510 shares during the last quarter. GAMMA Investing LLC boosted its position 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 worth $70,000 after purchasing an additional 171 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of Canadian National Railway by 57.8% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 819 shares of the transportation company's stock worth $80,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Performance

Shares of CNI stock traded up $0.57 during trading hours on Friday, hitting $93.33. 1,103,725 shares of the company were exchanged, compared to its average volume of 2,040,034. The firm has a fifty day simple moving average of $100.12 and a 200 day simple moving average of $100.54. 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 Company has a 52-week low of $91.65 and a 52-week high of $121.12. The stock has a market capitalization of $58.26 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.06 and a beta of 0.94.

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 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 business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the business posted $1.84 earnings per share. The firm's quarterly revenue was down 1.3% on a year-over-year basis. Research 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 will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be given a dividend of $0.6507 per share. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 8th. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. Canadian National Railway's dividend payout ratio is 49.81%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CNI shares. Wells Fargo & Company dropped their price objective on 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. 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. Barclays reduced their price objective on shares of Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Citigroup reduced their price objective on shares of Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada reduced their price objective 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $118.36.

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.