Raymond James Financial Inc. Grows Position in Canadian National Railway Company $CNI

Key Points

• Raymond James Financial Inc. increased its stake in Canadian National Railway Company by 1.5%, now owning approximately $27.32 million worth of shares after acquiring an additional 4,235 shares in the first quarter.
• Several institutional investors, including Dagco Inc. and Bruce G. Allen Investments LLC, have recently adjusted their positions in Canadian National Railway, with institutional ownership now at 80.74%.
• Canadian National Railway recently declared a quarterly dividend of $0.6507 per share, increasing its annualized dividend to $2.60 with a yield of 2.7%.

Raymond James Financial Inc. raised its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 1.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 280,287 shares of the transportation company's stock after buying an additional 4,235 shares during the period. Raymond James Financial Inc.'s holdings in Canadian National Railway were worth $27,317,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CNI. American Century Companies Inc. boosted its stake in Canadian National Railway by 5.4% in the 1st quarter. American Century Companies Inc. now owns 155,841 shares of the transportation company's stock worth $15,166,000 after purchasing an additional 7,963 shares during the period. Vestmark Advisory Solutions Inc. lifted its position in Canadian National Railway by 137.0% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 16,918 shares of the transportation company's stock worth $1,649,000 after buying an additional 9,779 shares in the last quarter. Gulf International Bank UK Ltd lifted its position in Canadian National Railway by 2,758.6% during the 1st quarter. Gulf International Bank UK Ltd now owns 31,016 shares of the transportation company's stock worth $3,023,000 after buying an additional 29,931 shares in the last quarter. Dagco Inc. bought a new stake in Canadian National Railway during the 1st quarter worth about $32,000. Finally, LGT Group Foundation increased its stake in shares of Canadian National Railway by 25.4% during the 1st quarter. LGT Group Foundation now owns 111,206 shares of the transportation company's stock worth $10,824,000 after purchasing an additional 22,513 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock traded up $0.72 during midday trading on Friday, hitting $96.82. 450,905 shares of the company traded hands, compared to its average volume of 1,504,771. The firm's fifty day moving average price is $98.57 and its 200-day moving average price is $100.05. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. Canadian National Railway Company has a 12 month low of $91.65 and a 12 month high of $121.12. The stock has a market cap of $60.44 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.16 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings results 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 firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the business posted $1.84 EPS. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be issued a $0.6507 dividend. The ex-dividend date is Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's dividend payout ratio (DPR) is 50.19%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CNI shares. Argus upgraded shares of Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Citigroup dropped their target price 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. 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 for the company in a research report on Wednesday, July 23rd. Bank of America boosted their target price 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, Barclays dropped their target price on shares of Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.