Cardinal Capital Management Inc. Grows Holdings in Canadian National Railway (NYSE:CNI)

Cardinal Capital Management Inc. increased its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 13.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 444,223 shares of the transportation company’s stock after acquiring an additional 52,435 shares during the quarter. Canadian National Railway comprises approximately 2.7% of Cardinal Capital Management Inc.’s holdings, making the stock its 14th biggest position. Cardinal Capital Management Inc. owned about 0.07% of Canadian National Railway worth $53,831,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in Canadian National Railway by 8.1% during the 1st quarter. Citigroup Inc. now owns 146,378 shares of the transportation company’s stock valued at $17,248,000 after buying an additional 10,907 shares in the last quarter. Brighton Jones LLC purchased a new stake in Canadian National Railway during the 1st quarter valued at approximately $214,000. Sequoia Financial Advisors LLC grew its holdings in Canadian National Railway by 9.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,017 shares of the transportation company’s stock valued at $474,000 after buying an additional 330 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Canadian National Railway by 64.4% during the 1st quarter. Global Retirement Partners LLC now owns 518 shares of the transportation company’s stock valued at $61,000 after buying an additional 203 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in Canadian National Railway by 2.4% during the 1st quarter. Stifel Financial Corp now owns 916,980 shares of the transportation company’s stock valued at $108,177,000 after buying an additional 21,379 shares in the last quarter. 67.60% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Up 0.8 %

Shares of NYSE:CNI traded up $0.94 on Friday, hitting $116.40. 1,635,338 shares of the company’s stock were exchanged, compared to its average volume of 1,055,594. Canadian National Railway has a 12 month low of $103.79 and a 12 month high of $129.89. The stock has a market capitalization of $76.08 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 3.12 and a beta of 0.91. The business’s 50 day simple moving average is $115.12 and its two-hundred day simple moving average is $116.92. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.72.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, July 25th. The transportation company reported $1.31 earnings per share 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 the consensus estimate of $3.13 billion. Analysts anticipate that Canadian National Railway will post 5.57 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.5996 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.06%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, September 7th. Canadian National Railway’s dividend payout ratio (DPR) is 39.73%.

Wall Street Analyst Weigh In

CNI has been the subject of a number of research analyst reports. Argus lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. StockNews.com initiated coverage on shares of Canadian National Railway in a report on Thursday, August 17th. They issued a “hold” rating for the company. CIBC cut their target price on shares of Canadian National Railway from C$177.00 to C$175.00 in a report on Wednesday, July 26th. Citigroup cut their target price on shares of Canadian National Railway from $125.00 to $122.00 in a report on Tuesday, July 11th. Finally, Stephens cut their target price on shares of Canadian National Railway from $124.00 to $122.00 in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Canadian National Railway currently has an average rating of “Hold” and an average target price of $145.71.

About Canadian National Railway

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.