American Century Companies Inc. Grows Position in Canadian National Railway (NYSE:CNI)

American Century Companies Inc. grew its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 22.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,342 shares of the transportation company’s stock after purchasing an additional 23,150 shares during the quarter. American Century Companies Inc.’s holdings in Canadian National Railway were worth $15,048,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Canadian National Railway in the second quarter valued at $26,000. Addison Advisors LLC increased its stake in shares of 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 purchasing an additional 148 shares in the last quarter. GAMMA Investing LLC raised its holdings in Canadian National Railway by 766.7% in the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after purchasing an additional 207 shares during the period. ORG Partners LLC purchased a new position in Canadian National Railway during the second quarter worth approximately $34,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Canadian National Railway in the first quarter valued at approximately $64,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Down 1.6 %

CNI stock opened at $117.11 on Friday. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The firm has a market cap of $74.06 billion, a PE ratio of 18.68, a PEG ratio of 2.56 and a beta of 0.88. The firm’s 50 day moving average price is $116.23 and its 200-day moving average price is $122.20. 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 posted its 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 business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. Canadian National Railway’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.31 EPS. On average, equities research analysts anticipate that Canadian National Railway will post 5.58 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be given 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 is Friday, September 6th. Canadian National Railway’s dividend payout ratio is presently 39.07%.

Analysts Set New Price Targets

CNI has been the subject of several research analyst reports. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Susquehanna decreased their price objective on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Stifel Nicolaus cut their target price on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Sanford C. Bernstein lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $146.25 to $130.67 in a research note on Monday, July 8th. Finally, National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Sixteen equities research 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 company’s stock. According to data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and an average target price of $137.35.

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.