Dimensional Fund Advisors LP Purchases 48,984 Shares of Canadian National Railway (NYSE:CNI)

Dimensional Fund Advisors LP grew its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,102,997 shares of the transportation company’s stock after buying an additional 48,984 shares during the period. Dimensional Fund Advisors LP owned 0.17% of Canadian National Railway worth $130,297,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CNI. UBS Group AG raised its holdings in shares of Canadian National Railway by 31.8% during the fourth quarter. UBS Group AG now owns 358,116 shares of the transportation company’s stock valued at $44,990,000 after acquiring an additional 86,424 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Canadian National Railway by 61.1% during the 4th quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock valued at $20,375,000 after acquiring an additional 61,498 shares during the period. Corient Private Wealth LLC grew its stake in shares of Canadian National Railway by 10.9% during the 4th quarter. Corient Private Wealth LLC now owns 34,269 shares of the transportation company’s stock valued at $4,305,000 after acquiring an additional 3,370 shares during the period. Assetmark Inc. grew its stake in shares of Canadian National Railway by 5,967.4% during the 4th quarter. Assetmark Inc. now owns 2,609 shares of the transportation company’s stock valued at $328,000 after acquiring an additional 2,566 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Canadian National Railway by 86.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 688 shares of the transportation company’s stock worth $86,000 after purchasing an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

CNI opened at $117.07 on Monday. The stock’s 50 day simple moving average is $116.23 and its 200 day simple moving average is $122.12. The stock has a market cap of $74.04 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.56 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period in the prior year, the company earned $1.31 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts anticipate that Canadian National Railway will post 5.58 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a $0.614 dividend. This represents a $2.46 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.07%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CNI shares. Susquehanna lowered their price target on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Barclays cut their target price on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company cut their price objective on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Fifteen research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $136.33.

Canadian National Railway Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.