Veriti Management LLC Boosts Stock Holdings in Canadian National Railway (NYSE:CNI)

Veriti Management LLC increased its stake in Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,178 shares of the transportation company’s stock after purchasing an additional 360 shares during the quarter. Veriti Management LLC’s holdings in Canadian National Railway were worth $1,097,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CNI. Norges Bank purchased a new stake in Canadian National Railway in the fourth quarter worth approximately $654,343,000. Schroder Investment Management Group boosted its holdings in Canadian National Railway by 152.6% in the fourth quarter. Schroder Investment Management Group now owns 6,235,870 shares of the transportation company’s stock worth $968,922,000 after purchasing an additional 3,766,889 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Canadian National Railway by 127.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,147,685 shares of the transportation company’s stock worth $632,445,000 after purchasing an additional 2,884,391 shares during the last quarter. Causeway Capital Management LLC purchased a new stake in Canadian National Railway in the fourth quarter worth approximately $198,767,000. Finally, National Bank of Canada FI purchased a new stake in Canadian National Railway in the fourth quarter worth approximately $185,443,000. Institutional investors own 70.92% of the company’s stock.

Shares of CNI stock opened at $109.92 on Thursday. The stock has a market cap of $75.81 billion, a P/E ratio of 20.21, a PEG ratio of 1.83 and a beta of 0.86. Canadian National Railway has a 52 week low of $100.66 and a 52 week high of $137.19. The company has a quick ratio of 0.67, a current ratio of 0.84 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $115.68 and its two-hundred day simple moving average is $121.89.

Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) last announced its quarterly earnings results on Tuesday, April 26th. The transportation company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.04). The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Canadian National Railway had a return on equity of 19.71% and a net margin of 33.00%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 EPS. On average, analysts anticipate that Canadian National Railway will post 5.58 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 9th will be given a dividend of $0.586 per share. This represents a $2.34 annualized dividend and a dividend yield of 2.13%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, June 8th. Canadian National Railway’s dividend payout ratio is currently 42.65%.

Several equities research analysts recently issued reports on CNI shares. Evercore ISI upgraded shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $128.00 target price on the stock in a report on Thursday, May 26th. BMO Capital Markets raised shares of Canadian National Railway from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a research report on Wednesday, May 18th. StockNews.com initiated coverage on shares of Canadian National Railway in a research report on Thursday, March 31st. They set a “hold” rating for the company. National Bank Financial cut their price objective on shares of Canadian National Railway from C$172.00 to C$168.00 in a research report on Friday, April 8th. Finally, CIBC raised shares of Canadian National Railway from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, June 2nd. Fifteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $146.95.

Canadian National Railway Profile (Get Rating)

Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company's portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.

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