Union Bancaire Privee UBP SA Purchases 38,208 Shares of Canadian National Railway Company $CNI

Key Points

• Union Bancaire Privee UBP SA increased its holdings in Canadian National Railway by 793.4% during the second quarter, acquiring an additional 38,208 shares, bringing their total to 43,024 shares valued at $4.48 million.
• Canadian National Railway has faced several analyst downgrades, with research firms lowering their ratings and price targets for the stock, which currently has a consensus rating of "Hold."
• The company recently increased its quarterly dividend to $0.6507 per share, up from $0.62, reflecting a yield of 2.8% and a payout ratio of 50.19%.

Union Bancaire Privee UBP SA grew its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 793.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,024 shares of the transportation company's stock after acquiring an additional 38,208 shares during the period. Union Bancaire Privee UBP SA's holdings in Canadian National Railway were worth $4,476,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CNI. Dagco Inc. bought a new stake in shares of Canadian National Railway during the 1st quarter worth about $32,000. Bruce G. Allen Investments LLC boosted its holdings in shares of Canadian National Railway by 44.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock worth $34,000 after buying an additional 106 shares during the period. CX Institutional bought a new stake in shares of Canadian National Railway during the 1st quarter worth about $39,000. Brooklyn Investment Group boosted its holdings in shares of Canadian National Railway by 354.3% during the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock worth $42,000 after buying an additional 333 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Canadian National Railway by 42.7% during 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 period. Institutional investors own 80.74% of the company's stock.

Analyst Ratings Changes

CNI has been the subject of several research analyst reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. National Bank Financial downgraded shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a report on Wednesday, July 23rd. Evercore ISI downgraded shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 target price for the company. in a report on Wednesday, July 23rd. Barclays cut their price objective on shares of Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Finally, Citigroup cut their price objective on shares of Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Canadian National Railway currently has a consensus rating of "Hold" and an average price target of $116.86.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $93.94 on Tuesday. The company has a 50 day moving average of $94.53 and a 200-day moving average of $99.11. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $117.42. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The company has a market cap of $58.32 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 2.14 and a beta of 0.94.

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 for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate 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 was down 1.3% on a year-over-year basis. During the same period last year, the company posted $1.84 EPS. As a group, equities research analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 8th were given a dividend of $0.6507 per share. The ex-dividend date was Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a yield of 2.8%. This is a positive change 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 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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