Ontario Teachers Pension Plan Board Boosts Stock Position in Canadian National Railway Company (NYSE:CNI)

Key Points

• Ontario Teachers Pension Plan Board increased its stake in Canadian National Railway by 25.1%, resulting in holdings valued at $4.04 million after acquiring an additional 8,334 shares in the first quarter.
• Several institutional investors have modified their holdings in Canadian National Railway, with 80.74% of the stock currently owned by institutional investors and hedge funds.
• Canadian National Railway announced a quarterly dividend increase to $0.6507 per share, reflecting a 2.8% annualized yield, with the ex-dividend date set for September 8th.

Ontario Teachers Pension Plan Board boosted its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 25.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,537 shares of the transportation company's stock after purchasing an additional 8,334 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Canadian National Railway were worth $4,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in CNI. Polar Asset Management Partners Inc. grew its holdings in shares of Canadian National Railway by 233.3% in the fourth quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company's stock worth $2,537,000 after purchasing an additional 17,500 shares during the last quarter. Cypress Asset Management Inc. TX bought a new stake in Canadian National Railway in the fourth quarter valued at $875,000. GAMMA Investing LLC boosted its holdings in Canadian National Railway by 31.3% in the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock valued at $70,000 after acquiring an additional 171 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Canadian National Railway by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company's stock valued at $9,185,000 after buying an additional 3,400 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Canadian National Railway by 60.6% during the 1st quarter. SG Americas Securities LLC now owns 9,729 shares of the transportation company's stock valued at $948,000 after buying an additional 3,671 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Down 0.0%

Shares of Canadian National Railway stock traded down $0.03 during trading on Monday, hitting $92.54. 569,582 shares of the stock traded hands, compared to its average volume of 1,476,802. The firm has a market cap of $57.97 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 52-week low of $91.65 and a 52-week high of $121.12. The stock's fifty day simple moving average is $101.33 and its 200 day simple moving average is $100.89.

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 for the quarter, missing analysts' consensus estimates 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%. Canadian National Railway's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Investors 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. This represents a $2.60 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is 50.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNI. Royal Bank Of Canada dropped their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. 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. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Barclays cut their price objective on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. Finally, Bank of America boosted their price objective on Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $118.36.

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.