Russell Investments Group Ltd. Has $58.03 Million Holdings in Canadian National Railway Company (NYSE:CNI)

Key Points

• Russell Investments Group Ltd. reduced its stake in Canadian National Railway Company by 3.3%, selling 20,589 shares during the first quarter, leaving it with a total of 596,077 shares worth approximately $58 million.
• Despite the decrease in some holdings, many institutional investors increased their stakes, with Polar Asset Management significantly raising its investment by 233.3%.
• Canadian National Railway announced an increase in its quarterly dividend to $0.6507 per share, resulting in an annualized dividend of $2.60 and a yield of 2.8%.

Russell Investments Group Ltd. reduced its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 596,077 shares of the transportation company's stock after selling 20,589 shares during the period. Russell Investments Group Ltd. owned 0.09% of Canadian National Railway worth $58,033,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bruce G. Allen Investments LLC boosted its position in shares of 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 worth $34,000 after purchasing an additional 106 shares during the last quarter. CX Institutional bought a new position in Canadian National Railway during the first quarter worth about $39,000. Dunhill Financial LLC lifted its holdings in Canadian National Railway by 1,020.0% during the fourth quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock worth $57,000 after acquiring an additional 510 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Canadian National Railway by 31.3% during the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after acquiring an additional 171 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Canadian National Railway by 57.8% during the first quarter. Creative Financial Designs Inc. ADV now owns 819 shares of the transportation company's stock worth $80,000 after acquiring an additional 300 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen raised Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Argus raised Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Barclays dropped their price target on 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. Finally, Susquehanna dropped their price target on Canadian National Railway from $122.00 to $120.00 and set a "positive" 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 assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $118.36.

Canadian National Railway Stock Up 0.6%

Shares of NYSE:CNI traded up $0.57 during midday trading on Friday, reaching $93.33. The company had a trading volume of 1,103,725 shares, compared to its average volume of 2,040,034. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The business's 50 day moving average price is $100.12 and its 200 day moving average price is $100.54. The stock has a market cap of $58.26 billion, a PE ratio of 17.95, a P/E/G ratio of 2.08 and a beta of 0.94. Canadian National Railway Company has a 1-year low of $91.65 and a 1-year high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The company had revenue of $3.14 billion during the quarter, compared to analyst estimates 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 was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 EPS. Research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be given a dividend of $0.6507 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.8%. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is presently 49.81%.

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.