Forsta AP Fonden Raises Stock Holdings in Canadian National Railway Company $CNI

Forsta AP Fonden grew its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 104,000 shares of the transportation company’s stock after acquiring an additional 5,800 shares during the quarter. Forsta AP Fonden’s holdings in Canadian National Railway were worth $10,815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Canadian National Railway by 0.8% during the first quarter. Vanguard Group Inc. now owns 23,165,939 shares of the transportation company’s stock valued at $2,254,370,000 after purchasing an additional 179,261 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Canadian National Railway by 2.3% in the 2nd quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock worth $1,255,385,000 after buying an additional 273,974 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Canadian National Railway by 6.0% in the 1st quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company’s stock worth $1,095,793,000 after buying an additional 636,147 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Canadian National Railway by 6.3% during the 1st quarter. Mackenzie Financial Corp now owns 8,571,806 shares of the transportation company’s stock valued at $834,129,000 after buying an additional 505,588 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Canadian National Railway by 20.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock valued at $646,983,000 after acquiring an additional 1,148,569 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Down 1.3%

CNI opened at $96.58 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. The stock’s 50 day moving average price is $94.88 and its 200-day moving average price is $98.57. Canadian National Railway Company has a one year low of $91.07 and a one year high of $112.97. The stock has a market cap of $59.54 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 2.13 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.Canadian National Railway’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.72 EPS. On average, equities analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be paid a dividend of $0.8875 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, December 9th. Canadian National Railway’s payout ratio is presently 48.01%.

Analysts Set New Price Targets

CNI has been the topic of several analyst reports. Citigroup boosted their price objective on Canadian National Railway from $119.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Evercore ISI lifted their target price on Canadian National Railway from $98.00 to $103.00 and gave the stock an “in-line” rating in a report on Monday, November 3rd. Barclays cut their target price on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 2nd. Susquehanna increased their price target on Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Finally, Wall Street Zen upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Canadian National Railway has an average rating of “Hold” and a consensus price target of $114.00.

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.