Canadian National Railway Company (NYSE:CNI) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB has increased its holdings in Canadian National Railway by 4.2% for a total of 80,216 shares, totaling approximately $7.8 million in value.
• Analyst ratings for Canadian National Railway are mixed, with a consensus rating of "Hold" and target prices ranging from $105.00 to $120.00.
• The company recently increased its quarterly dividend to $0.6507, resulting in an annualized yield of 2.71%, reflecting a payout ratio of 49.81%.

Skandinaviska Enskilda Banken AB publ lifted its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,216 shares of the transportation company's stock after acquiring an additional 3,221 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Canadian National Railway were worth $7,818,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC lifted its holdings 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 valued at $34,000 after acquiring an additional 106 shares during the last quarter. CX Institutional bought a new position in shares of Canadian National Railway in the 1st quarter valued at about $39,000. Dunhill Financial LLC lifted its holdings 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 valued at $57,000 after acquiring an additional 510 shares during the last quarter. GAMMA Investing LLC lifted its holdings 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 valued at $70,000 after acquiring an additional 171 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its holdings 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 valued at $80,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on CNI. Stephens increased their price target 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. Bank of America raised their target price on shares of Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Wells Fargo & Company reduced their target price on shares of Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating on the stock in a research report on Wednesday. National Bank Financial lowered shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research report on Wednesday. Finally, Jefferies Financial Group reduced their target price on shares of Canadian National Railway from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Canadian National Railway presently has a consensus rating of "Hold" and an average target price of $118.36.

Canadian National Railway Stock Up 0.5%

Shares of CNI stock traded up $0.45 during trading hours on Friday, reaching $95.87. 2,287,331 shares of the company's stock were exchanged, compared to its average volume of 1,582,010. The stock's 50 day moving average is $103.72 and its 200-day moving average is $101.47. The company has a market cap of $60.06 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 2.13 and a beta of 0.97. 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 fifty-two week low of $91.65 and a fifty-two week high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly 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 business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%. The business's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 earnings per share. 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 firm also recently declared 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. The ex-dividend date of this dividend is Monday, September 8th. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.71%. Canadian National Railway's dividend payout ratio is presently 49.81%.

Canadian National Railway Company 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.