TD Waterhouse Canada Inc. Has $514.64 Million Position in Canadian National Railway Company $CNI

Key Points

• TD Waterhouse Canada increased its Canadian National Railway stake by 2.8% to 4.3 million shares, valued at approximately $514.6 million. Institutional investors and hedge funds collectively own 80.74% of the company.
• Canadian National Railway reported quarterly EPS of $1.50, exceeding estimates of $1.39, while revenue rose 11.3% year over year to $3.35 billion. The company declared a quarterly dividend of $0.915, representing a 3.0% annualized yield.
• CNI shares recently traded at $123.13, and analysts maintained a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $137.40.

TD Waterhouse Canada Inc. boosted its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 2.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,297,955 shares of the transportation company's stock after buying an additional 116,530 shares during the quarter. Canadian National Railway makes up approximately 1.4% of TD Waterhouse Canada Inc.'s investment portfolio, making the stock its 23rd largest position. TD Waterhouse Canada Inc. owned 0.71% of Canadian National Railway worth $514,643,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FIL Ltd increased its position in Canadian National Railway by 49.5% in the 4th quarter. FIL Ltd now owns 15,745,744 shares of the transportation company's stock valued at $1,557,309,000 after acquiring an additional 5,210,403 shares during the period. Caisse de depot et placement du Quebec lifted its holdings in shares of Canadian National Railway by 1.1% during the third quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company's stock worth $1,310,600,000 after purchasing an additional 157,000 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Canadian National Railway by 2.0% during the first quarter. Lazard Asset Management LLC now owns 9,077,518 shares of the transportation company's stock worth $934,488,000 after purchasing an additional 173,894 shares during the period. Deutsche Bank AG grew its stake in shares of Canadian National Railway by 15.1% in the fourth quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company's stock worth $889,462,000 after purchasing an additional 1,182,106 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Canadian National Railway by 3.1% in the fourth quarter. Mackenzie Financial Corp now owns 8,894,923 shares of the transportation company's stock worth $882,039,000 after purchasing an additional 268,776 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Trading Up 1.4%

CNI opened at $123.13 on Friday. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $131.55. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average of $125.68 and a 200-day moving average of $116.12. The stock has a market cap of $74.51 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 2.17 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.26 billion. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. Canadian National Railway's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.87 earnings per share. On average, sell-side analysts predict that Canadian National Railway Company will post 5.82 EPS for the current year.

Canadian National Railway Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th will be given a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $3.66 annualized dividend and a dividend yield of 3.0%. Canadian National Railway's dividend payout ratio (DPR) is 47.34%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CNI. Barclays increased their price objective on Canadian National Railway from $109.00 to $130.00 and gave the company an "equal weight" rating in a report on Monday, July 27th. Wells Fargo & Company upped their price target on Canadian National Railway from $135.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, July 27th. Citizens Jmp initiated coverage on Canadian National Railway in a research note on Wednesday, July 15th. They issued a "market perform" rating for the company. Weiss Ratings raised Canadian National Railway from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Finally, Evercore upgraded Canadian National Railway from an "in-line" rating to an "outperform" rating and set a $124.00 price objective for the company in a research report on Thursday, June 25th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $137.40.

About Canadian National Railway

Canadian National Railway Company NYSE: CNI is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN's core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.

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