Teachers Retirement System of The State of Kentucky Buys New Position in Canadian National Railway (NYSE:CNI)

Teachers Retirement System of The State of Kentucky acquired a new position in shares of Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 99,380 shares of the transportation company’s stock, valued at approximately $10,732,000.

A number of other hedge funds also recently added to or reduced their stakes in CNI. BCK Partners Inc. acquired a new stake in Canadian National Railway during the 1st quarter worth approximately $2,575,000. BlackRock Inc. lifted its position in Canadian National Railway by 26.2% during the 1st quarter. BlackRock Inc. now owns 931,027 shares of the transportation company’s stock worth $124,888,000 after acquiring an additional 193,116 shares during the period. Dimensional Fund Advisors LP lifted its position in Canadian National Railway by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 762,341 shares of the transportation company’s stock worth $102,260,000 after acquiring an additional 22,984 shares during the period. Blair William & Co. IL lifted its position in Canadian National Railway by 1.4% during the 1st quarter. Blair William & Co. IL now owns 60,441 shares of the transportation company’s stock worth $8,107,000 after acquiring an additional 807 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in Canadian National Railway by 18.9% during the 1st quarter. Allianz Asset Management GmbH now owns 33,602 shares of the transportation company’s stock worth $4,511,000 after acquiring an additional 5,349 shares during the period. 86.96% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $118.49 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.66 and a current ratio of 0.84. The stock has a fifty day moving average of $118.91 and a two-hundred day moving average of $118.82. The company has a market capitalization of $79.41 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 2.02 and a beta of 0.91. Canadian National Railway has a fifty-two week low of $103.79 and a fifty-two week high of $137.19.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be issued a dividend of $0.5906 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, March 9th. This represents a $2.36 annualized dividend and a dividend yield of 1.99%. Canadian National Railway’s dividend payout ratio (DPR) is 40.63%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on Canadian National Railway from $120.00 to $115.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 25th. Desjardins reduced their price target on Canadian National Railway from C$180.00 to C$179.00 in a report on Wednesday, January 25th. StockNews.com began coverage on Canadian National Railway in a report on Thursday. They issued a “buy” rating for the company. Credit Suisse Group reduced their price target on Canadian National Railway from $133.00 to $128.00 and set a “neutral” rating for the company in a report on Wednesday, January 25th. Finally, National Bank Financial raised their price target on Canadian National Railway from C$173.00 to C$175.00 in a report on Friday, December 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $142.35.

Canadian National Railway Profile

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Canadian National Railway Co engages in rail and related transportation business. Its services include rail, intermodal, trucking, supply chain services, business development and maps and network. Its offers their services in automotive, coal, fertilizer, food and beverages, forest products, dimensional loads, grain, metals and minerals and petroleum and chemicals industries.