Canadian National Railway (NYSE:CNI) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,986,555 shares of the transportation company’s stock after purchasing an additional 125,949 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.63% of Canadian National Railway worth $525,070,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CNI. Canada Pension Plan Investment Board increased its stake in Canadian National Railway by 92.4% during the first quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after acquiring an additional 2,163,820 shares during the last quarter. Capital International Sarl increased its stake in Canadian National Railway by 86.0% during the first quarter. Capital International Sarl now owns 55,361 shares of the transportation company’s stock worth $7,296,000 after acquiring an additional 25,596 shares during the last quarter. Capital International Ltd. CA increased its stake in Canadian National Railway by 88.1% during the first quarter. Capital International Ltd. CA now owns 44,115 shares of the transportation company’s stock worth $5,810,000 after acquiring an additional 20,660 shares during the last quarter. Capital International Inc. CA increased its stake in Canadian National Railway by 23.9% during the first quarter. Capital International Inc. CA now owns 593,446 shares of the transportation company’s stock worth $78,147,000 after acquiring an additional 114,380 shares during the last quarter. Finally, Capital International Investors increased its stake in Canadian National Railway by 18.1% during the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after acquiring an additional 1,379,976 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Jefferies Financial Group began coverage on Canadian National Railway in a research note on Monday, April 8th. They set a “hold” rating and a $130.00 target price for the company. Barclays lowered their price target on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Sanford C. Bernstein lowered Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $146.25 to $130.67 in a research report on Monday, July 8th. Finally, Stephens lowered their price target on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Eighteen equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $138.35.

Canadian National Railway Stock Performance

Shares of CNI traded down $0.59 during midday trading on Monday, reaching $114.86. 151,079 shares of the stock were exchanged, compared to its average volume of 1,081,073. The business’s 50-day moving average price is $121.28 and its 200 day moving average price is $125.50. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a market capitalization of $72.30 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 2.32 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter last year, the firm posted $1.31 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, sell-side analysts expect that Canadian National Railway will post 5.69 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a $0.614 dividend. This represents a $2.46 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.23%.

About Canadian National Railway

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.