Canadian National Railway Company $CNI Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,927,393 shares of the transportation company’s stock after buying an additional 761,454 shares during the period. Vanguard Group Inc.’s holdings in Canadian National Railway were worth $2,493,163,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Founders Capital Management LLC purchased a new stake in shares of Canadian National Railway during the 2nd quarter worth approximately $3,335,000. TD Asset Management Inc raised its stake in Canadian National Railway by 2.3% during 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 acquiring an additional 273,974 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Canadian National Railway by 39.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock valued at $259,694,000 after acquiring an additional 755,518 shares during the last quarter. Cardinal Capital Management Inc. boosted its stake in Canadian National Railway by 3.1% in the second quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company’s stock valued at $76,178,000 after acquiring an additional 22,035 shares in the last quarter. Finally, Logan Capital Management Inc. grew its holdings in shares of Canadian National Railway by 50.7% during the first quarter. Logan Capital Management Inc. now owns 26,486 shares of the transportation company’s stock worth $2,581,000 after purchasing an additional 8,916 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Down 1.6%

CNI stock opened at $92.10 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $94.87 and its 200 day moving average price is $98.46. Canadian National Railway Company has a 52 week low of $91.07 and a 52 week high of $112.97. The company has a market cap of $56.78 billion, a P/E ratio of 17.71, 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 results 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 the consensus estimate of $4.15 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $1.72 EPS. On average, research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th will be given a $0.8875 dividend. The ex-dividend date is Tuesday, December 9th. This represents a $3.55 annualized dividend and a dividend yield of 3.9%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s payout ratio is presently 48.01%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CNI shares. Zacks Research cut Canadian National Railway from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada raised their price target on Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Evercore ISI upped their price objective on Canadian National Railway from $98.00 to $103.00 and gave the company an “in-line” rating in a research note on Monday, November 3rd. Wall Street Zen upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Susquehanna upped their price target on Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $114.00.

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.