Rempart Asset Management Inc. Purchases 8,215 Shares of Canadian National Railway Company $CNI

Rempart Asset Management Inc. grew its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 4.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 199,306 shares of the transportation company’s stock after buying an additional 8,215 shares during the period. Canadian National Railway makes up about 4.0% of Rempart Asset Management Inc.’s holdings, making the stock its 14th biggest holding. Rempart Asset Management Inc.’s holdings in Canadian National Railway were worth $20,760,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in Canadian National Railway by 42.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,325 shares of the transportation company’s stock valued at $2,165,000 after purchasing an additional 6,324 shares during the period. Versant Capital Management Inc lifted its stake in shares of Canadian National Railway by 2,044.7% in the first quarter. Versant Capital Management Inc now owns 2,016 shares of the transportation company’s stock valued at $196,000 after buying an additional 1,922 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Canadian National Railway by 12,692.7% during the first quarter. GAMMA Investing LLC now owns 69,976 shares of the transportation company’s stock valued at $6,820,000 after buying an additional 69,429 shares during the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Canadian National Railway by 46.4% during the first quarter. Legacy Wealth Asset Management LLC now owns 17,615 shares of the transportation company’s stock worth $1,717,000 after acquiring an additional 5,585 shares in the last quarter. Finally, QV Investors Inc. raised its holdings in shares of Canadian National Railway by 15.0% in the 1st quarter. QV Investors Inc. now owns 505,605 shares of the transportation company’s stock worth $49,196,000 after acquiring an additional 65,944 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CNI shares. Argus upgraded Canadian National Railway to a “hold” rating in a research note on Friday, June 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Canadian National Railway in a research report on Wednesday, July 23rd. Wells Fargo & Company lowered their price target on Canadian National Railway from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Susquehanna reduced their target price on shares of Canadian National Railway from $120.00 to $115.00 and set a “positive” rating for the company in a research note on Thursday. Finally, Royal Bank Of Canada lowered their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an “outperform” rating for the company in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $117.94.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $92.84 on Monday. The firm has a market cap of $57.64 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 2.14 and a beta of 0.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. Canadian National Railway Company has a 52 week low of $91.07 and a 52 week high of $118.14. The firm’s 50-day simple moving average is $94.64 and its two-hundred day simple moving average is $99.14.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its 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 for the quarter, compared to the consensus estimate of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 earnings per share. As a group, equities analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.6507 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, September 8th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.62. Canadian National Railway’s dividend payout ratio is currently 50.19%.

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.