Cardinal Capital Management Inc. boosted its position in shares of Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) by 4.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 391,788 shares of the transportation company’s stock after acquiring an additional 15,226 shares during the period. Canadian National Railway comprises 2.5% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Cardinal Capital Management Inc. owned about 0.06% of Canadian National Railway worth $46,184,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kwmg LLC grew its holdings in Canadian National Railway by 2.3% during the 1st quarter. Kwmg LLC now owns 44,579 shares of the transportation company’s stock worth $5,259,000 after acquiring an additional 994 shares in the last quarter. Rempart Asset Management Inc. grew its holdings in Canadian National Railway by 4.0% during the 1st quarter. Rempart Asset Management Inc. now owns 187,775 shares of the transportation company’s stock worth $22,135,000 after acquiring an additional 7,230 shares in the last quarter. Natixis grew its holdings in Canadian National Railway by 67.9% during the 4th quarter. Natixis now owns 108,926 shares of the transportation company’s stock worth $12,949,000 after acquiring an additional 44,051 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $226,000. Finally, Macquarie Group Ltd. boosted its holdings in shares of Canadian National Railway by 9.9% in the 4th quarter. Macquarie Group Ltd. now owns 51,459 shares of the transportation company’s stock valued at $6,117,000 after buying an additional 4,640 shares in the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.
Canadian National Railway Stock Up 0.8 %
Shares of Canadian National Railway stock opened at $118.95 on Friday. The company has a market cap of $78.74 billion, a P/E ratio of 19.73, a PEG ratio of 2.46 and a beta of 0.90. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.57 and a current ratio of 0.74. Canadian National Railway has a one year low of $103.79 and a one year high of $129.89. The firm has a fifty day moving average of $118.38 and a two-hundred day moving average of $119.15.
Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) last announced its quarterly earnings results on Monday, April 24th. The transportation company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a net margin of 30.61% and a return on equity of 25.00%. On average, analysts forecast that Canadian National Railway will post 5.83 earnings per share for the current year.
Canadian National Railway Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be issued a $0.5835 dividend. The ex-dividend date is Thursday, June 8th. This represents a $2.33 dividend on an annualized basis and a dividend yield of 1.96%. Canadian National Railway’s dividend payout ratio is presently 39.30%.
Analyst Ratings Changes
Several research analysts have recently issued reports on CNI shares. Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, April 6th. Citigroup cut shares of Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their target price for the company from $139.00 to $125.00 in a report on Monday, May 22nd. Bank of America lowered their target price on shares of Canadian National Railway from $137.00 to $134.00 in a report on Monday, March 27th. CIBC decreased their price target on shares of Canadian National Railway from C$185.00 to C$183.00 in a research note on Friday. Finally, Scotiabank increased their price target on shares of Canadian National Railway from C$169.00 to C$172.00 in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $143.67.
About Canadian National Railway
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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.
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