JPMorgan Chase & Co. Grows Stock Holdings in Canadian National Railway (NYSE:CNI)

JPMorgan Chase & Co. raised its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,616,947 shares of the transportation company’s stock after acquiring an additional 240,847 shares during the period. JPMorgan Chase & Co.’s holdings in Canadian National Railway were worth $265,646,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CNI. XTX Topco Ltd raised its stake in shares of Canadian National Railway by 43.3% during the third quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock worth $1,822,000 after purchasing an additional 4,698 shares during the last quarter. Unigestion Holding SA raised its position in Canadian National Railway by 363.6% during the 3rd quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock worth $18,012,000 after buying an additional 120,687 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Canadian National Railway by 82.3% in the 3rd quarter. Synovus Financial Corp now owns 13,873 shares of the transportation company’s stock worth $1,625,000 after acquiring an additional 6,261 shares during the period. Sustainable Insight Capital Management LLC purchased a new stake in shares of Canadian National Railway in the fourth quarter valued at about $436,000. Finally, Two Sigma Advisers LP increased its stake in shares of Canadian National Railway by 123.7% during the third quarter. Two Sigma Advisers LP now owns 172,172 shares of the transportation company’s stock worth $20,170,000 after acquiring an additional 95,200 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 2.4 %

Shares of CNI opened at $97.39 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. Canadian National Railway has a 1-year low of $93.64 and a 1-year high of $132.27. The stock has a market cap of $61.20 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. The firm has a 50 day simple moving average of $101.07 and a 200-day simple moving average of $106.51.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. Equities analysts forecast that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.6159 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Monday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is currently 47.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CNI shares. JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Jefferies Financial Group upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Friday, January 10th. Loop Capital cut Canadian National Railway from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. Susquehanna decreased their target price on shares of Canadian National Railway from $115.00 to $113.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company cut their price target on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.02.

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.