Canadian National Railway Company $CNI Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,300,252 shares of the transportation company’s stock after acquiring an additional 372,859 shares during the period. Vanguard Group Inc. owned approximately 3.93% of Canadian National Railway worth $2,291,562,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Canadian National Railway during the 2nd quarter worth about $591,904,000. Fisher Asset Management LLC bought a new position in Canadian National Railway during the 2nd quarter valued at $189,748,000. Troy Asset Management Ltd increased its position in shares of Canadian National Railway by 158.8% in the 3rd quarter. Troy Asset Management Ltd now owns 2,738,372 shares of the transportation company’s stock worth $258,220,000 after purchasing an additional 1,680,223 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Canadian National Railway by 26.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock valued at $695,048,000 after purchasing an additional 1,408,978 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Canadian National Railway by 20.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock worth $655,768,000 after purchasing an additional 1,051,977 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Trading Up 1.7%

Shares of CNI opened at $109.70 on Friday. The stock has a fifty day moving average price of $100.30 and a two-hundred day moving average price of $96.83. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. The company has a market cap of $67.26 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 2.27 and a beta of 0.94. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $109.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the business earned $1.82 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts predict that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a $0.915 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.3%. Canadian National Railway’s payout ratio is 46.59%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CNI shares. Vertical Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and upped their target price for the company from $146.00 to $151.00 in a report on Friday, November 28th. Citigroup decreased their price target on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Susquehanna lifted their target price on shares of Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. Finally, UBS Group lowered shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.91.

Canadian National Railway Company Profile

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.