Canadian National Railway Company $CNI Shares Bought by Federation des caisses Desjardins du Quebec

Federation des caisses Desjardins du Quebec raised its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 19.5% during the first quarter, Holdings Channel reports. The firm owned 2,990,341 shares of the transportation company’s stock after purchasing an additional 488,245 shares during the period. Canadian National Railway makes up about 1.4% of Federation des caisses Desjardins du Quebec’s holdings, making the stock its 18th biggest holding. Federation des caisses Desjardins du Quebec’s holdings in Canadian National Railway were worth $290,029,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Dagco Inc. acquired a new position in shares of Canadian National Railway in the 1st quarter valued at $32,000. Bruce G. Allen Investments LLC boosted its holdings in shares of Canadian National Railway by 44.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. CX Institutional acquired a new position in shares of Canadian National Railway during the 1st quarter valued at $39,000. Brooklyn Investment Group lifted 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 valued at $42,000 after acquiring an additional 333 shares in the last quarter. Finally, Dunhill Financial LLC lifted its holdings in shares of Canadian National Railway by 1,020.0% during the 4th quarter. Dunhill Financial LLC now owns 560 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 510 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CNI shares. Raymond James Financial upgraded shares of Canadian National Railway from a “market perform” rating to an “outperform” rating in a report on Thursday, July 17th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. Royal Bank Of Canada reduced their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an “outperform” rating on the stock in a report on Wednesday, July 23rd. Evercore ISI lowered shares of Canadian National Railway from an “outperform” rating to an “in-line” rating and set a $105.00 price objective on the stock. in a report on Wednesday, July 23rd. Finally, National Bank Financial lowered shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $118.36.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $96.85 on Tuesday. The firm has a 50-day simple moving average of $98.36 and a 200 day simple moving average of $99.94. The company has a market cap of $60.46 billion, a PE ratio of 18.62, a P/E/G ratio of 2.15 and a beta of 0.94. Canadian National Railway Company has a fifty-two week low of $91.65 and a fifty-two week high of $121.12. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90.

Canadian National Railway (NYSE:CNI) (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 company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The company’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. On average, sell-side analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be paid a $0.6507 dividend. The ex-dividend date is Monday, September 8th. This represents a $2.60 annualized dividend and a yield of 2.7%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.62. Canadian National Railway’s dividend payout ratio (DPR) is currently 49.81%.

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.