Geode Capital Management LLC Acquires 743,712 Shares of Canadian National Railway (NYSE:CNI)

Geode Capital Management LLC raised its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 29.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,306,192 shares of the transportation company’s stock after purchasing an additional 743,712 shares during the quarter. Geode Capital Management LLC’s holdings in Canadian National Railway were worth $340,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CNI. Quintet Private Bank Europe S.A. acquired a new position in Canadian National Railway during the fourth quarter worth $25,000. Arlington Trust Co LLC acquired a new stake in shares of Canadian National Railway during the 4th quarter worth about $30,000. Lee Danner & Bass Inc. bought a new position in Canadian National Railway during the 4th quarter valued at about $30,000. Addison Advisors LLC boosted its position in Canadian National Railway by 80.2% in the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock valued at $32,000 after buying an additional 142 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Canadian National Railway by 48.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock worth $34,000 after buying an additional 108 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 1.6 %

NYSE CNI opened at $96.61 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. Canadian National Railway has a 12 month low of $93.64 and a 12 month high of $132.27. The company has a market capitalization of $60.71 billion, a PE ratio of 18.87, a P/E/G ratio of 1.95 and a beta of 0.93. The stock has a 50-day simple moving average of $100.46 and a 200 day simple moving average of $105.95.

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

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.6159 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.55%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Monday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is currently 47.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CNI shares. Barclays reduced their target price on Canadian National Railway from $112.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wells Fargo & Company decreased their target price on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Loop Capital lowered Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Susquehanna reduced their price target 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, March 27th. Finally, JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.36.

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.