TD Asset Management Inc Buys 273,974 Shares of Canadian National Railway Company $CNI

Key Points

• TD Asset Management Inc increased its stake in Canadian National Railway by 2.3% to a total of 12,072,540 shares, making it the 18th largest holding in their portfolio.
• Canadian National Railway's stock opened at $96.15, with a 52-week range of $91.07 to $116.79, and reported earnings per share of $1.35 for the latest quarter.
• The company announced a quarterly dividend increase to $0.6507, yielding 2.7%, which is up from the previous $0.62 per share.

TD Asset Management Inc increased its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,072,540 shares of the transportation company's stock after buying an additional 273,974 shares during the quarter. Canadian National Railway accounts for 1.1% of TD Asset Management Inc's investment portfolio, making the stock its 18th largest holding. TD Asset Management Inc owned 1.93% of Canadian National Railway worth $1,255,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Dagco Inc. purchased a new stake in shares of Canadian National Railway in the first quarter valued at about $32,000. CX Institutional bought a new stake in Canadian National Railway in the 1st quarter worth about $39,000. Brooklyn Investment Group increased its stake in Canadian National Railway by 354.3% in the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock valued at $42,000 after buying an additional 333 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Canadian National Railway by 42.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company's stock worth $58,000 after buying an additional 167 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of 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. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CNI shares. Citigroup cut their price target on shares of Canadian National Railway from $121.00 to $119.00 and set a "buy" rating on the stock in a report on Monday. Weiss Ratings reiterated a "hold (c-)" rating on shares of Canadian National Railway in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Canadian National Railway from a "hold" rating to a "sell" rating in a research note on Saturday, October 4th. Barclays dropped their price objective on Canadian National Railway from $99.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 2nd. Finally, Wells Fargo & Company decreased their target price on Canadian National Railway from $117.00 to $110.00 and set an "overweight" rating for the company in a research report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.90.

Canadian National Railway Stock Performance

Shares of CNI opened at $96.15 on Tuesday. Canadian National Railway Company has a 52-week low of $91.07 and a 52-week high of $116.79. The stock has a market capitalization of $59.69 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 2.14 and a beta of 0.96. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. The stock's 50-day simple moving average is $94.59 and its 200 day simple moving average is $98.93.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its 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). The firm had revenue of $3.14 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.84 earnings per share. 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 announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 8th were paid a $0.6507 dividend. The ex-dividend date was Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a 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 is currently 50.19%.

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.

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