The Manufacturers Life Insurance Company Boosts Stock Holdings in Canadian National Railway Company $CNI

Key Points

• The Manufacturers Life Insurance Company increased its holdings in Canadian National Railway by 37.3%, now owning 5,296,701 shares valued at approximately $518 million.
• Canadian National Railway announced a quarterly dividend increase to $0.6507 per share, reflecting a 2.7% dividend yield with a payout ratio of 49.81%.
• The company's latest earnings report showed a decrease in revenue by 1.3% year-over-year, with earnings per share of $1.35, falling short of analysts' expectations.

The Manufacturers Life Insurance Company raised its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 37.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,296,701 shares of the transportation company's stock after buying an additional 1,439,617 shares during the period. The Manufacturers Life Insurance Company owned about 0.84% of Canadian National Railway worth $518,260,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CNI. Royal Bank of Canada boosted its holdings in Canadian National Railway by 7.5% in the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock worth $2,817,616,000 after buying an additional 1,934,622 shares during the last quarter. Nuveen LLC acquired a new stake in Canadian National Railway in the 1st quarter worth about $112,216,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Canadian National Railway by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company's stock worth $646,983,000 after purchasing an additional 1,148,569 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Canadian National Railway by 34.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,858,739 shares of the transportation company's stock worth $278,242,000 after purchasing an additional 737,879 shares during the last quarter. Finally, BLI Banque de Luxembourg Investments acquired a new position in shares of Canadian National Railway during the 4th quarter worth approximately $70,283,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Trading Up 0.1%

CNI traded up $0.14 during trading hours on Wednesday, reaching $96.77. The company's stock had a trading volume of 471,318 shares, compared to its average volume of 1,499,241. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The business's 50-day moving average is $98.25 and its 200-day moving average is $99.91. Canadian National Railway Company has a fifty-two week low of $91.65 and a fifty-two week high of $121.12. The stock has a market cap of $60.41 billion, a PE ratio of 18.59, a P/E/G ratio of 2.15 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 EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $4.34 billion. During the same quarter last year, the company earned $1.84 earnings per share. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, equities research 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 company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.6507 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.7%. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 8th. Canadian National Railway's payout ratio is currently 49.81%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CNI shares. Barclays lowered their target price on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. Wells Fargo & Company lowered their target price on Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. restated a "neutral" rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. Citigroup lowered their target price on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. Finally, Wall Street Zen upgraded Canadian National Railway from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $118.36.

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.