Canadian National Railway (NYSE:CNI) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.2% in the 1st quarter, HoldingsChannel reports. The firm owned 5,619,574 shares of the transportation company’s stock after buying an additional 66,171 shares during the period. Canadian National Railway makes up approximately 2.6% of CIBC Asset Management Inc’s holdings, making the stock its 7th largest holding. CIBC Asset Management Inc’s holdings in Canadian National Railway were worth $662,435,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CNI. BCK Partners Inc. acquired a new stake in Canadian National Railway during the 1st quarter valued at $2,575,000. BlackRock Inc. lifted its holdings in Canadian National Railway by 26.2% during the 1st quarter. BlackRock Inc. now owns 931,027 shares of the transportation company’s stock valued at $124,888,000 after purchasing an additional 193,116 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 valued at $102,260,000 after purchasing an additional 22,984 shares during the last quarter. Blair William & Co. IL lifted its holdings 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 valued at $8,107,000 after purchasing an additional 807 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings 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 valued at $4,511,000 after purchasing an additional 5,349 shares during the last quarter. Institutional investors and hedge funds own 67.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CNI. Stephens reduced their target price on shares of Canadian National Railway from $124.00 to $122.00 in a research report on Wednesday, July 26th. BMO Capital Markets dropped their price objective on Canadian National Railway from C$177.00 to C$175.00 in a report on Wednesday, July 26th. Citigroup reduced their target price on Canadian National Railway from $125.00 to $122.00 in a report on Tuesday, July 11th. Argus cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Royal Bank of Canada downgraded shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $145.71.

Canadian National Railway Trading Up 0.5 %

NYSE:CNI traded up $0.56 during mid-day trading on Monday, hitting $113.17. 999,300 shares of the company’s stock were exchanged, compared to its average volume of 1,099,575. The company has a 50 day simple moving average of $116.79 and a 200-day simple moving average of $117.30. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.78. Canadian National Railway has a fifty-two week low of $103.79 and a fifty-two week high of $129.89. The firm has a market capitalization of $74.29 billion, a P/E ratio of 19.38, a PEG ratio of 3.05 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, July 25th. The transportation company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.06). Canadian National Railway had a return on equity of 24.62% and a net margin of 30.21%. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.13 billion. As a group, research analysts expect that Canadian National Railway will post 5.59 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 Friday, September 29th. Stockholders of record on Friday, September 8th will be given a $0.5996 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.12%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.58. Canadian National Railway’s payout ratio is 40.58%.

Canadian National Railway Profile

Canadian National Railway Company, together with its subsidiaries, engages in rail and related transportation business. The company offers rail services, which include equipment, custom brokage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services including temperature controlled cargo, port partnership, transloading and distribution, logistic parks, customs brokerage, trucking, and moving grains in containers.