BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Holdings in Canadian National Railway (NYSE:CNI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4,614.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,336,027 shares of the transportation company’s stock after acquiring an additional 1,307,689 shares during the period. Canadian National Railway comprises approximately 1.0% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s portfolio, making the stock its 18th largest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.21% of Canadian National Railway worth $157,896,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CNI. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Canadian National Railway in the 2nd quarter valued at $26,000. Addison Advisors LLC increased its position in Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 148 shares during the period. GAMMA Investing LLC raised its stake in Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 207 shares during the last quarter. ORG Partners LLC acquired a new stake in Canadian National Railway during the 2nd quarter worth approximately $34,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Canadian National Railway in the 1st quarter valued at approximately $64,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. Susquehanna dropped their price target on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Stephens cut their price target on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Fifteen investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $136.33.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $117.11 on Tuesday. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The stock has a market cap of $74.06 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.56 and a beta of 0.88. The business’s fifty day moving average price is $116.14 and its two-hundred day moving average price is $122.03. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63.

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

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.614 per share. This represents a $2.46 dividend on an annualized basis 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 is presently 39.07%.

About Canadian National Railway

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.